Adventure Box Technologies, a computer game technology company based in Stockholm, has entered the online gambling industry with the acquisition of Canadian betting and gaming services provider, Lion Gaming Group.
The acquisition, valued at SEK 475m ($45m), will be paid through newly issued shares in Adventure Box at SEK 0.40 per share.
Lion Gaming is a revenue-generating entity, with an expected turnover of SEK 350m and an EBITDA of SEK 180m for 2024.
The company is known for its iGaming technology, offering a platform that supports multi-chain and on-chain transactions.
Adventure Box, on the other hand, is already an established player in the computer games industry, operating the KoGaMa platform where users can create, share and play 3D computer games. The platform boasts over 750,000 active monthly users.
Commenting on this development, Mads Jørgensen, Chairman of the Board at Adventure Box Technologies, stated: “We are creating a major new player in the iGaming market through the acquisition of Lion Gaming Group, and we see opportunities for synergies between the KoGaMa platform and Lion's gaming platform.
“This acquisition lays the foundation for a global player powered by power, bleeding edge technologies that will change the game for operators, suppliers and most importantly, players.”
Duncan McIntyre, CEO of Lion Gaming Group, added: “We look forward to becoming part of Adventure Box Technologies and benefiting from their extensive experience and resources to further develop our business.
“This merger gives us the opportunity to benefit from synergies and strengthen our presence globally, which benefits both our customers and shareholders.
“We are confident this transaction will provide us with the tools and support we need to continue to be a leader in iGaming technology through organic growth and acquisition of new businesses.”
