For an initial figure of €1.6m (£1.4m), UK affiliate Maxfreebets.co.uk has been acquired by Stockholm-listed B2B software studio Net Gaming

The deal is due to be completed via cash consideration from existing reserves, while also including a maximum additional consideration of €600,000 based on performance over the next twelve months.

Marcus Teilman, chief executive of Net Gaming, commented on the acquisition: “I am very pleased to make this betting acquisition, as we have strong confidence in long-term growth generation from our betting vertical.

“Through the acquisition, we increase our presence in the strategically important regulated UK betting market, while also strengthening our organisation within the betting vertical.

“We see good potential in the acquired assets.”

Alongside Bettingonline.co.uk, Net Gaming has confirmed that maxfreebets.co.uk will become the software studio’s UK betting flagship brand. 

Currently, Maxfreebets.com offers a number of bonus promotions and gambling offers to customers across the UK market.