UK internet betting giant Ladbrokes has announced that it has come to an agreement to purchase betting exchange Betdaq for €30 million.
Negotiations between Ladbrokes and Betdaq's owner Dermot Desmond began more than a year ago and will see the deal completed on a cash free basis. The two betting firms have an exisiting commercial relationship, as Ladbrokes uses Betdaq's exchange in order to use bets.
The deal is set to be completed by the end of February.
In other Ladbrokes news, the firm announced that they have come to an agreement to purchase a 10% share of TBH Guernsey Limited for €4 million. TBH currently provides technology services to Global Betting Exchange Alderney, which is the operating arm of Betdaq.