B90 Holdings, an online sportsbook and casino operator, has entered into a share purchase agreement with Funko International for the acquisition of Emwys AB. Emwys AB is a Swedish-based marketing company in the online gambling sector, that operates using a pay-per-click model.
The total share capital has been valued at €3.6m ($4m) for Emwys, on a cash-free and debt-free basis. This will be comprised of €500,000 in cash and €250,000 in convertible loan notes upfront, with the remainder due on the closing date.
It is expected that the acquisitions will close no later than 1 September 2023.
Ronny Breivik, Executive Chairman of B90, said: “The acquisition of Emwys presents substantial opportunities for B90. It is a step change for our business both in terms of scale and operations.
“By acquiring new knowledge and investing in this proven marketing concept, we aim to drive strong revenue growth, whilst continuing to generate profits from our existing marketing operations.This is an important first step in our ‘buy and build’ M&A strategy.”
The acquisition will strengthen the online marketing division of B90 Holdings, which collaborates with online casino companies, to provide them with marketing services.
Currently, the primary brand from B90 Holdings that deals with this division is Oddsen.nu, a Norway-based community and affiliate website.
Breivik continued: “We will seek to scale our business rapidly by following a strategic and deliberate approach to actively pursue selective acquisitions and other opportunities, such as entering licence agreements with businesses in our sector which seek operational knowhow anddistribution capabilities.”
Elsewhere in the European market, XLMedia has sold three of its European Casino Assets for $4m.
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