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  Betsson has acquired fellow Nordic operator Betsafe in a deal that is said to be worth €60 million. A statement issued by the company said that Betsson will pay an initial €32.5 million in cash and shares for the privately owned operator and an additional €27.5 million payable conditional on "the development of the acquisition and the integration thereof during 2011." Betsson said it intends to retain all Betsafe staff and brands, with the management of Betsafe, including founders André and Christer Lavold and chiefexecutive Henrik Persson, joining the Betsson operational management team in Malta. Persson called the deal "an attractive solution for Betsafe", given the similar business visions of the two companies.
"This deal will fuel our growth," said Betsson chief executive Pontus Lindwall. "We strengthen our position in the Nordic region as well as our organisation when merging two profitable companies, each of which has proven its ability to gain market share in a highly competitive market environment."
Betsson saw increased revenues of 119% in 2010 but lost nearly 40% of its revenue in the first quarter of 2011. The company said that it will "...benefit from synergies that will materialize as the result of e.g. integration of platforms and supplier contracts" and that the purchase was a wise investment for the future of company.
As always, stay tuned to Casinofan for more news and updates.
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