Betsson continues South American growth through Inkabet acquisition
Deal agreed through Betsson subsidiary SW Nordic Limited.
Online gaming company Betsson has announced the acquisition of South American operator Inkabet. This agreement evidences Betsson’s intentions to continue the brand’s growth throughout the Latin America region.
The deal, done through Betsson subsidiary SW Nordic Limited, sees the company acquire the business activities, operations and all related assets of Inkabet in a sale worth $25m. A further $4m will be paid depending on Inkabet reaching agreed upon revenue targets in the next six months. This purchase price equates to 3.8 times Inkabet’s EBIT of the last 12 months, ending June 2021.
Inkabet, which offers sports betting and casino products, is one of the largest gaming operators in the western region of South America.
Launched in 2012, the gaming operator’s revenue as of June 2021 was $25.5m.
It is expected this deal will be completed 30 days from the signing of the agreement.
“Through this transaction, Betsson continues to build market share in the LatAm region, following the previous acquisitions of JDP Tech Ltd, Suaposta and ColBet,” said Pontus Lindwall, CEO of Betsson AB. “This strengthens our position in a strategically important region where we have performed well and have big ambitions for the future.”
The decision to acquire Inkabet is in line with Betsson’s policy of Latin American expansion. The company was recently the official sponsor of the CONMEBOL Copa America 2021, an international soccer tournament featuring South and Central American nations. Furthermore, from 2020 to now, the company has signed agreements to expand into Brazil, Colombia, Argentina, Mexico and Peru.
“The sponsoring of CONMEBOL Copa América 2021, is a further commitment towards our ambitions for this region,” added Jesper Svensson, CEO of Betsson operations. “We will be part of the entire journey to keep fans engaged with compelling, authentic experiences.”
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