Acroud acquires TheGamblingCabin for SEK47.3m
Acroud will pay approximately SEK47.3m (£4.1m/€4.7m/$5.6m) to purchase 100% of the shares in TheGamblingCabin, split equally as SEK23.6m in cash and SEK23.6m in newly issued Acroud shares.
The deal also includes a potential additional consideration based on earnings before interest, tax, depreciation and amortisation (EBITDA) for the period from 1 April 22 to 31 March 2023.
TheGamblingCabin operates as a software-based tipster service, also offering video content based around sports betting, poker and horse racing.
According to Acroud, the acquisition has a “clear strategic fit”, with addition of TheGamblingCabin set to strengthen its software-as-a-service (SaaS) offering, as well as add YouTube and Twitch to it wider offering.
Acroud in February announced that it had signed a letter of intent to acquire a “software based tipster service”, with the affiliate business now confirming TheGamblingCabin as the identity of the previously unnamed entity.
The transaction is not subject to any further conditions and is completed as of today (15 April).
“This is the next step of the implementation of Acroud’s strategy to be the ‘Media House of the Future’ and a fast growing global player within Streaming and software solutions for the media affiliation industry,” Acroud president and chief executive Robert Andersson said.
TheGamblingCabin chief executive Bengt Sonnert added: “To become a part of Acroud was actually nothing that we even thought about initially, but the more we understood what Acroud is building it felt as an easy choice.
“They share our visions and provide us with new and greater possibilities to bring our business to the next level.”
The deal marks Acroud’s latest acquisition, with the affiliate business having also recently purchased PMG Group’s igaming assets.
Acroud also acquired an unnamed sports betting business, which it said is well-positioned in emerging markets such as Latin America, Africa and Asia, and signed a letter of intent to acquire an unnamed “fast-growing US tipster company”.
“The acquisition together with the other recent acquisitions are together considered transformative and additive for each other,” Andersson said. “We are building a company where all parts complement each other.”
Source: iGB News