The acquisition will be completed in a hybrid cash and stock transaction, and is expected to complete in H1 2023.
The deal is also subject to shareholder & regulatory approval.
Brian Goodman, Golden Matrix CEO, said of the acquisition: "We are thrilled to announce our entry into a purchase agreement with the shareholders of MeridianBet Group. We believe that this acquisition will provide us entry into a well-established and highly scalable B2C vertical in new markets outside of our core markets.
“MeridianBet Group appealed to us with its proven business model that emphasises organic growth, resilience to external economic factors, and exceptional products and technology.”
Meanwhile, Zoran Milosevic, CEO of MeridianBet Group, added: “Today marks a major milestone for MeridianBet Group and its employees.
“As a public company traded on Nasdaq, in synergy with Golden Matrix, we expect to set an industry standard when it comes to worldwide gaming platforms and to be in an even stronger position to deliver on our aggressive growth strategy and expand into new markets, including Brazil and the US.”
Golden Matrix previously acquired an 80% controlling interest in RKings Competition back in December 2021.
Goodman said at the time: “Obviously, we are pleased to now have this exciting and successful B2C business as a wholly owned entity. It is highly scalable and expected to grow quickly in multiple regulated jurisdictions.”
