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NEWS 28 April 2017

STS completes acquisition of Greep Ltd.

By Nicole Abbott
STS has finalised its acquisition of Greep, Ltd. – a Czech software provider for gaming operators who offer mutual bets and lotteries in Europe.

As one of major shareholders of the Czech company, STS became a co-owner of bookmaker system Betsys, which is used by Greep. STS believe that this investment will allow for further development of activity in the Polish and European market.

Sports betting operator STS strives to adapt to changing consumer trends, adding mobile software applications for Android system and iOS and eSports odds to its offerings. The company also broadcasts nearly 2,000 sport events each month via STS.TV.

Greep’s services of are used by other leading operators in Poland, such as Sazka – the biggest lottery operator in Czechia. Greep has 48 employees and reaped revenues of approximately PLN 7.7m in 2016.

Mateusz Juroszek, President of STS, says: “For STS, this agreement means greater independence from providers, as well as the assurance of further development.

“Only the best European companies from our field are afforded their own bookmaker system, and his competitive advantage will allows us to continue operating in Poland. We take pride in investing in modern solutions for our players, and Greep will help us to begin development outside of Poland.”

Jiri Najman, President of Greep, comments: “The Integration of Greep with STS not only affirms the high quality of our services, but most importantly allows us to expand our range of competences. Obtaining an investor such as STS means that we can expect to develop and strengthen our position in this market, thus we will consider opening a shared development centre in Poland.”
RELATED TAGS: Online | Mergers & Acquisitions | Sports Betting
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