Softswiss has expanded its international presence through the acquisition of Turfsport, a South African provider of multichannel wagering software for sports, horseracing and lotto.
With the acquisition of a majority stake in Turfsport, Softswiss further expands its presence in South Africa.
Turfsport’s software is currently used by more than 40 operators in South Africa for horseracing, lotto and sports betting. The total number of bets placed by all Turfsport clients across various platforms exceeds 1.5 billion annually.
CEO at Turfsport Christian Neuberger shared his thoughts: "To provide more innovation and react faster to the growing demands of the iGaming industry, Turfsport was looking for an international partner that would complement our strong brand in South Africa, and we are absolutely delighted to have found the ideal partner in Softswiss and its dynamic and fast-growing team.
"Both companies look forward to delivering innovative product enhancements and services, giving our customers the competitive edge to grow and succeed in an increasingly dynamic market. We are all truly excited about the winning combination of Turfsport’s local and Softswiss’ international expertise and the prospects for this duo in the South African and African markets."
Softswiss’ acquisition of Turfsport will increase the provider's visibility in the African market and solidify its local presence in the region.
Co-CEO at Softswiss Andrey Starovoitov commented: “Acquiring a successful local company is one of the fastest and most efficient ways to enter a new market. I am pleased to announce the completion of this long-awaited deal. With this agreement, Softswiss takes a significant step forward in its extensive expansion into South Africa and the African continent. I believe this region is becoming the next focal point globally, following Latin America.
"What's even more valuable for us is that we not only gain market presence but also access technologies developed over the last 35 years by world-class specialists. We look forward to enhancing our product portfolio and continuing our commitment to providing high-end solutions to our partners.”
In other news related to South Africa, Light & Wonder expanded into South Africa's regulated iGaming market through a collaboration with operator Hollywoodbets in December last year. Furthermore, in October 2023 Optimove geared up for South African growth through a partnership with Amelco.
