SBC News Voice of the Sports Betting Industry
Swedish sports betting software supplier Betting Promotion has agreed the purchase of igaming software developer Tain from gambling company Atletico Nordic. The acquisition of Tain Gaming has been set at approximately SEK44.3 million (€5 million/$6.9 million), and will see Tain services fully acquired including subsidiaries Tain Ukraine, Tain Malta, Tain International and WL Services.
Betting Promotion had been eying the acquisition of Tain Gaming in early 2013, the company began negotiations with Tain Gaming in late August 2013. The deal is set to be confirmed by the end of October. The acquisition of Tain Gaming will be set under Swedish Corporate Governing laws and in accordance with the Swedish Securities Council’s statement 2012:05.
Betting Promotion CEO Jonas Ornstein, commented : “The collaboration between the companies began in the fall of 2010 and has from the beginning worked very well, The new constellation will increase our market exposure, give us a broader revenue base, increase the resources and increase opportunities for cost savings.”
Tain CEO Christer Fahlstedt further commented: “Tain and Betting Promotion will create a strong, independent full-service supplier that is well positioned to compete in a rapidly maturing gaming industry.”
