After announcing their agreement last month, Aspire Global has finally closed the deal with BtoBet. They purchased the sportsbook technology provider for $20 million in cash.
Aspire Global is one of the leading suppliers of platforms and solutions in the iGaming industry. They are hoping that this deal with BtoBet will allow them to expand into sports betting, which was previously unchartered territory for the Malta-based company.
Though Aspire Global has already paid millions of dollars to secure this agreement, much of their deal still hinges upon the performance of BtoBet in the next two years. However, the company has already stated they don’t expect any financial returns from this investment in 2020.
Strategizing for the long-term
Instead, this iGaming supplier is focused on its long-term strategy. The acquisition of BtoBet means that Aspire Global’s service will encompass more of the B2B iGaming value chain. In turn, they will be able to provide for all major sectors in the online gambling industry.
Already, things are looking promising. BtoBet’s sportsbook technology is currently being used by 33 operators in Africa, Europe and Latin America. Their latest customer is Betfair – one of the biggest online gambling companies in the world. This partnership between Betfair and BtoBet will also benefit Aspire Global, increasing their outreach to Columbia.
Becoming a true global B2B company
When announcing the news, CEO of Aspire Global Tsachi Maimon said this: “With the acquisition of BtoBet we have become a true global B2B company which owns and provides an iGaming platform, sports betting, casino games and games aggregator as well as managed services for all continents and markets.”
“Aspire Global can now compete for any deal, big or small, that exists out there.”