Betsson lauds ‘milestone’ 35 per cent Strive stake
Betsson Perch Investments has acquired 35 per cent of the shares in Strive Platform for a total amount of $6.5m, with an option to increase its shareholding by five per cent for $1m.
Continuing on from yesterday’s announcement of a 50 per cent acquisition of JDP Tech, the subsidiary of Betsson will also grant to the company a convertible shareholder loan facility of $2.5m in the Strive Platform agreement.
“This investment is another important milestone in our US entry,” commented Pontus Lindwall, CEO of Betsson AB. “The investment will support our B2C launch with the Betsafe brand in Colorado as well as broaden Betsson’s offering to the US market.
“The US market has a limited number of PAMs and sportsbooks that are truly set up for the multi-state regulatory environment and scale. This investment brings together two high quality independent igaming technologies for the US market.”
In the Q4 2020 report, Betsson announced an agreement with TG Lab UAB (TG Lab), a leading international igaming technology and development company. Through the agreement, Betsson is able to utilise the company’s new, purpose built and modern US igaming platform to support Betsson’s launch on the US market.
TG Lab has since then created Strive, a North American specific entity encompassing this new technology, intellectual property rights and market leading expertise, in which Betsson now invests.
Betsson’s sportsbook will be the first to be integrated with the Strive PAM, creating an appealing choice for the US market.
- Betsson Perch Investments AB
- Pontus Lindwall
- Strive Platfrom Ltd