iam Hill have agreed a deal to acquire online operators Sportingbet.

The £485m takeover, which has been recommended by the Sportingbet board, will see Hills purchase Sportingbet’s Australian business while also being granted a call option over the firm’s Spanish operations.

Hills’ junior partner in the arrangement, gambling service providers GVC Holdings, are to acquire the remaining Sportingbet businesses in areas where the regulatory landscape is less clear.

William Hill CEO Ralph Topping said: “This acquisition not only highlights William Hill’s commitment to grow further internationally into regulated, high growth markets such as Australia, but also supports our strategic aim to diversify revenue sources into new territories and through greater multi-channel usage.”