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This week Betsson AB announced that they've struck an agreement to purchase NetPlay TV for a price of £26.4 million.
The agreement will see Betsson £0.09 per share and is subject to approval from NetPlay shareholders as well as the UK High Court of Justice. The deal will see Betsson purchasing all outstanding shares of NetPlay, and will see the group joining Betsson's portfolio of products. NetPlay's existing online betting sites Supercasino, Vernon's and Jackpot247 will also make the move over to Betsson.
Speaking about the deal Betsson CEO Ulrik Bengtsson said, "NetPlay operates three brands, each with strong offerings, and we believe that applying Betsson's experience of operating successful casino brands will add to NetPlay's earnings and growth. We have a long-term view on NetPlay and will achieve significant cost synergies and operational improvements over time. Betsson's acquisition strategy includes adding volume to its scalable Techsson platform and increasing the share of locally regulated revenue."
If the deal is approved, it will be expected to close in April of this year.