Net Gaming, a leading B2B software studio that creates engaging online casino experiences, is thrilled to announce that it has acquired maxfreebets.co.uk, which together with bettingonline.co.uk will become the Group’s betting flagship in the regulated betting market in the United Kingdom.
Maxfreebets.com is a promoter of an exciting range of online gambling offers and bonuses to consumers in the United Kingdom.
An initial purchase consideration of € 1.6 million is being paid by Net Gaming, with a maximum additional consideration of € 0.6 million that will be based on performance over the following 12 months. Together with the entire additional consideration, the amount corresponds to an EBITDA multiple of approximately 3.4. The acquisition by Net Gaming is due to be settled in cash from existing reserves.
Marcus Teilman, the President and Chief Executive Officer of Net Gaming, commented on the acquisition by saying that he is very pleased to make this betting acquisition, as they have strong confidence in long-term growth generation from their betting vertical.
Teilman went on to say that through the acquisition, they will be in a position to increase their presence in the strategically important regulated betting market in the United Kingdom, while also strengthening their organization within the betting vertical.
He also said that they see good potential in the assets that have been acquired by Net Gaming.