The deal, described by German supplier Gauselmann as a "significant majority stake," further expands its digital presence ahead of re-regulation of the German online market from 2021.

The acquisition will also allow Gauselmann to gain a foothold in the North American lottery market, with Bede Gaming a partner to the Ontario Lottery and Gaming Corporation.

Bede Gaming, headquartered in Newcastle, England, will continue to operate as an independent business within Gauselmann, while the management will still hold a stake in the company.

Gauselmann Group Founder and CEO Paul Gauselmann said: "Bede’s technological expertise is very impressive and its highly complex solutions are first choice for league gaming companies not only in the UK, but around the world.

“This acquisition will allow us to significantly broaden the existing technology base within the Group and at the same time enable us to offer it to our customers and partners."

Bede Gaming Chairman Joe Saumarez-Smith added: "Gauselmann’s long-term prospects and financial strength will allow us to further enhance our range of products and services to existing customers, as well as win new business partners."