SBC News Voice of the Sports Betting Industry
Toronto listed gaming solutions provider Contagious Gaming has confirmed that it has entered a definitive agreement to acquire Digitote Limited for a total sum of CAD $7.2 million (£3.6 million).
The definitive agreement, sees the Canadian firm conclude its May acquisition of Digitote assets, with Contagious paying a share consideration of CAD $4 million which will be satisfied with the issuance of company shares.
Contagious governance have further attached an earn-out consideration equal to 1X EBITDA for Digitote performance following four years of the deal closing, capped at €2.2 million.
The Canadian gaming firm detailed that Digitote assets were a key acquisition for its services, with a proven commercial track record in sports betting technology. Contagious management will now work to create synergies with the acquired company
“We are delighted to announce that we have entered into a definitive agreement to Acquire Digitote which expands and enhances our sports betting offering,” said Peter Glancy, Contagious Gaming CEO and Director.
“The Acquisition enables us to provide our existing and new customers with a fixed odd sports betting platform alongside Goal Time. Digitote’s software has a 30-year history as an extremely robust sports betting platform with a proven track record of handling over $10 billion of web, mobile and land-based wagers throughout Europe.”
Guenter Boyks, CEO of Digitote, comments, “We are excited to move forward in our growth plan with Contagious Gaming. The combined synergies offer huge potential with significant opportunities to expand into international markets and grow the combined entities revenues.”
