Aspire Global acquires online sportsbook platform provider BtoBet

Consolidation of sports betting technologies proceeds apace as Aspire Global, online gambling company, has purchased BtoBet, a sportsbook software provider.

Aspire Global, headquartered in Malta, reported on Thursday that it has reached a agreement to buy 100% of the shares in BtoBet Ltd., a Gibraltar-based iGaming and sportsbook app provider. The deal is scheduled to close in the final quarter of 2020, and won't will have any significant effect on the operations of Aspire 2020.

Aspire Global has agreed to pay €20 million in cash, of which €15 million will be payable before the transaction is completed and the rest 12 months after closure. The contract also calls for a two-year down payment equivalent to 7x BtoBet's ebit in the second year after closing minus the purchasing price of €20m.

Currently the BtoBet's Neuron 3 network has 32 clients distributed across Europe, Latin America and Africa. The organization posted last year sales of €4.4m and losses of €1.5m while profits and earnings exceeded €3.1m and €1.2m respectively in the first half of 2020.

Aspire said adding an in-house sportsbook platform complements its purchase of aggregator and studio company for Pariplay games in 2019. Pariplay last year allowed Aspire to inroad into the us market through its deal with a platform licensed to 888 holdings New Jersey.

Tsachi Maimon, CEO of Aspire, said his organization "entered the sports betting arena with storm power", but hopefully those winds wouldn't blow away the contract papers until they re-signed. Maimon said Aspire's latest full-spectrum service means it "will now bid with any contract, large or small."

Aspire published its financial results last month for the three months ended June 30, during which sales grew by one-third to a record €43.7 million, while profits rose by 16.4% to a record €7.1 million. The group said the strong trend had carried into July, which saw trading volumes grow by about 19% from Q3 2019 average monthly overall.

The quarter saw fresh partnerships with Aspire ink with Mexico's Caliente and BetVictor European operator. The organization has already struck online casino deals in Switzerland and Aspire hopes to expand on its small US presence by launching a local branch next year at some point.