Buena Onda! Betsson acquires $25m Inkabet with aims to strengthen LatAm presence
SW Nordic, a subsidiary of Betsson, has signed an agreement to acquire Inkabet’s online gambling business, including its operations, alongside the related assets used for operating the brand. The acquisition will strengthen its market position in South America while expanding Betsson’s presence in Latin America – a strategically important region for the company.
SW Nordic, a subsidiary of Betsson, has signed an agreement to acquire Inkabet’s online gambling business, including its operations, alongside the related assets used for operating the brand. The acquisition will strengthen its market position in South America while expanding Betsson’s presence in Latin America – a strategically important region for the company.
The initial acquisition amount stands at $25m, with the additional sum of $4m payable via Betsson. This will be dependent on Inkabet’s performance and abilities to reach the agreed revenue EBIT targets. It will be required during the six months following the closing, paired with a deferred payment of $5m – out of which $3m is payable due 31 December 2022, and $2m payable a year later, on 31 December 2023, if no claims have come to light.
As a B2C brands that offers sportsbook and casino products, Inkabet targets the western region of South America. Betsson’s revolving credit facility (RCF) will finance the acquisition, giving financial flexibility when doing similar deals.
Since the brand launch in 2012, its revenue over the last 12 months – as of June 2021 – stood at $25.2m with an operating income (EBIT) of $8.8m and a revenue growth of 146% in comparison to the preceding 12-month period.
Pontus Lindwall, CEO of Betsson AB, said: “Through this transaction, Betsson continues to build market share in the LatAm region, following the previous acquisitions of JDP Tech Ltd, Suaposta and Colbet.
“This strengthens our position in a strategically important region where we have performed well and have big ambitions for the future”.
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