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Betsson AB Acquires Automaten Brands


Tuesday, 19 Feb 2013 07:39am EST 

Betsson AB announced that it has entered into an agreement to acquire the brands Sverigeautomaten.com, Norgesautomaten.com and Danmarksautomaten.com from Cherry, for a consideration of SEK 286 million, of which SEK 60 million constitutes an additional purchase price. In practice, the deal implies that Betsson AB`s subsidiary in Malta, which already is responsible for the operation of the Automaten sites, also takes over the brands and the responsibility for the external marketing of the brands. Simultaneously, Cherry acquires the brand Cherrycasino.com from Betsson AB`s Maltese subsidiary, for a consideration of SEK 1 million. The initial net consideration of SEK 225 million will be paid by the delivery of 1,063,895 newly issued Betsson B shares. The additional purchase price will be paid in cash after 12 months. 

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