Polish bookmaker STS has completed the acquisition of Czech betting software provider Betsys, in a deal it said will support its ongoing European expansion plans.
Under the agreement, the terms of which were not disclosed, STS will take full ownership of Betsys, a software business in which it was already the majority shareholder.
It acquired a 50% stake in the supplier's parent company Greep in April 2017.
Betsys is STS’s main provider of software for both online and retail channels, and also counts the likes of Czech gaming conglomerate Sazka among its clients.
STS did not state what impact the acquisition would have on its financial results, but did reveal that Betsys generates “revenues of several million Euros per year”.
“This is a significant investment which secures our further development,” STS chief executive Mateusz Juroszek (pictured) said. “The proprietary bookmaking system, and the possibility for its in-house development, constitutes a key advantage in our industry.
“We have already been generating more than 85% of our revenues via online channels, so further growth in IT solutions is of strategic value to us.”
Betsys chief executive Jiri Najman added: “The integration of Betsys and STS is not only a confirmation of the high quality of our services but above all, it allows us to expand our competence in the sector of IT solutions for the bookmaking industry, which is growing dynamically.
“Betsys, as part of the STS Group, is guaranteed stable growth and the possibility of creating and developing significant competitive advantages for the bookmaker in terms of technology.”
Aside from its native Poland, STS is also active in Germany, Iceland, Luxembourg, Slovenia, Andorra, San Marino, Gibraltar, Slovakia, Malta and Latvia, as well as the UK, where it secured a licence late last year.