Betsson to Acquire Sporting Solutions, In Line with M&A Strategy

Betsson is set to acquire Sporting Solutions, a UK-facing B2B firm that provides operators with cutting-edge sports betting technology. The acquisition, Betsson highlighted, will not disrupt the provision of products to the supplier’s existing partners.

The Deal Will Reinforce Betsson’s Business
Sporting Solutions was founded in 2007 and has a strong presence in the United Kingdom, Canada and South Africa. Currently owned by FDJ, the firm has long-term partnerships with a number of major operators and lotteries, including 888Sport, Betsson, Ladbrokes Coral, Norsk Tipping, SkyBet and William Hill, among others.

As per the agreement, Betsson would acquire Sporting Solution’s price setting and risk management activities but not the FDJ-operated lottery-oriented betting management services.

The acquisition was teased during Betsson’s Q2 earnings call last month when Betsson’s chief financial officer, Martin Öhman, said that the company is in a growth face and intent on exploring M&A opportunities.

This would not be Betsson’s first B2B acquisition for the year either. In February, the company acquired Holland Power Gaming and its Holland Gaming Technology subsidiary in a $30 million deal. This move allowed the online gambling group to return to the Netherlands following its exit several years ago.

In any case, the acquisition of Sporting Solution is still subject to regulatory approvals and additional conditions.

The Online Gaming Giant Is Excited about the Deal
Betsson did not disclose the financial aspect of the arrangement. However, CEO Jesper Svensson said that the new acquisition would be a strategic fit for his company that will reinforce its business with quality tech. As a company that already leverages Sporting Solutions’ technology, Betsson recognizes their value and quality, Svensson pointed out.  

The CEO added that the M&A deal aligns with the company’s existing growth strategy.

It [the deal] complements our sportsbook B2B strategy, strengthening the flexibility and scalability of Betsson’s sportsbook offering. Both are key factors in the success of our B2B strategy.

Jesper Svensson, CEO, Betsson

A few weeks ago, Betsson reported its Q2 results, highlighting solid metrics thanks to a boost from high-profile sporting events. The company management lauded the latest results as a testament to Betsson’s successful growth and profitability strategy.

FDJ, on the other hand, just posted its H1 report, likewise outlining strong results. The company also addressed the looming acquisition of Kindred, refuting monopolization claims.