Swedish online gaming company Betsson AB has announced that it has acquired a 35% stake in Strive Platform Ltd in a deal worth €5.4 million ($6.5m). The agreement also includes an option to increase its shareholding by another 5% following Betsson’s US launch set to take place in the second half of 2021.
Betsson Acquires 35% Stake in Strive Platform to Support US LaunchAs part of the shares acquisition, Betsson will become Strive’s first integrated sportsbook with a view to broadening customer offerings and making Betsson’s standalone sportsbook more attractive to US bettors.
Betsson Acquires 35% Stake in Strive Platform to Support US Launch“This investment is another important milestone in our US entry. 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”
The acquisition, carried out by Betsson Perch Investments AB, also grants Strive a convertible shareholder loan facility of €2.1 million ($2.5m).
