Deal expected to complete later this week
The High Court of Justice in the UK has sanctioned Betsson AB’s GBP 26.4 million cash offer for all of NetPlay TV plc shares, satisfying the conditions needed for the completion of the deal.
The offer is expected to become effective March 31, 2017, upon which NetPlay will become a wholly owned subsidiary of Betsson.
Following completion, Betsson indicated it will delist the company from AIM and implement an integration plan for NetPlay and its Jackpot247, Supercasino and Vernons brands.
Other operational changes will include centralising NetPlay’s currently outsourced customer service and payment operations, moving CRM and VIP functions closer to the rest of the Betsson business and consolidating Betsson and NetPlay UK office locations.
“With the addition of NetPlay and the continued organic growth, UK is on its way to become one of Betsson’s most important markets. Also, this acquisition is a good example of our strategy to acquire subscale operators where integration with Betsson’s systems and processes can realise synergies,” Ulrik Bengtsson, CEO and President of Betsson, commented.