Betsson Acquires BetSafe.com in €60m deal

Written by:
Aaron Goldstein
Published on:

Swedish-owned Betsson has acquired BetSafe.com in a deal said to be worth €60m.

“This deal will fuel our growth,” said Betsson chief executive Pontus Lindwall (pictured). “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.”

A statement issued by the company says it will pay an initial €32.5m in cash and shares for the privately owned operator.  Another €27.5m payable conditional on “the development of the acquisition and the integration thereof during 2011.”

Betsson is based out of Malta but the majority of its business comes from Scandinavia.  It was founded in 2002, obtaining an official London bookmaker license at that time.

In March 2005, Betsson reached the 100,000 registered customers milestone and further expanded into Turkey, Iceland and Denmark.  Later, the company launched sites in France, Spain, Italy, Greece, Peru, Serbia and the Netherlands.  They hit the one million registered customers milestone in 2008.

BetSafe.com started in 2006 and claims to have over 500.000 customers from over 100 different countries.

Aaron Goldstein, Gambling911.com

Business/Financial News

What is the Ideal Block Size and Fee Cost?

What is the Ideal Block Size and Fee Cost?

Markets are better at deciding what block sizes and fee costs should be.  Leave it up to the miners and users, not development committees.

Rest in Peace Bitcoin?  Not Quite

Rest in Peace Bitcoin? Not Quite

Bitcoin ain't dead yet, nowhere near. Bitcoin is currently sitting at a $115 Billion market cap with each Bitcoin currently being worth $6,728.33.  The last time we saw a price point similar to this level was in early February, just 4 months ago. During that same month Bitcoin bounced back to over $11,000.

Inside the Cryptocurrency Revolution

Inside the Cryptocurrency Revolution

Vice News on HBO is set to premier a segment on the "Cryptocurrency Revolution", more specifically detailing Genesis Mining. 

Bitcoin Blockchain Acceptance Updates

Use of cryptocurrencies can be done anonymously.  Companies like JazzSports are leading the way by promoting anonymous accounts that only require a valid email account.  Payments are through a virtual wallet using the blockchain.  This means it no longer matters where the actual customer physically resides.

Bitcoin Purported Founder Craig Wright Says His BTC Fortune May Remain Locked

Bitcoin Purported Founder Craig Wright Says His BTC Fortune May Remain Locked

The man who claims to have invented Bitcoin and was ordered by a judge to surrender approximately $3 billion of his Bitcoin holdings says he can't, at least not any time soon.