HeadsUp Entertainment in advanced M&A talks with European online gambling provider
OTC Pink-listed gaming and lottery operator expects to complete deal within 60 days after purchasing assets, licenses and contracts of target company
Canadian operator HeadsUp Entertainment International is engaged in advanced discussions to acquire a major European gaming software development and technology company.
The undisclosed company in question specializes in creating platforms for the lottery, online casino, charity fundraising, and sports betting sectors and its technology will be used to power HeadsUp’s online gambling launch in Canada.
The target firm operates under two entities based in Europe and is licensed in multiple international jurisdictions, with contracts in place to provide software to betting and gaming platforms.
According to HeadsUp, it boasts more than 50 customers ranging from national government contracts in the lottery sector to private gaming operators in the online casino and sports betting industry.
Meanwhile, it has been confirmed that the total value of contracts as part of this transaction exceeds $180m, with revenue already being generated from multiple clients and products.
HeadsUp has already forwarded approximately $1m towards the transaction. Over the past 90 days, HeadsUp has secured the rights to acquire all assets, licenses, and contracts of the target company.
Definitive agreement and closing is expected by both parties to take place in the next 60 days.