Coolbet Acquired by GAN for €149m
The deal, which is set to be completed by the first quarter of next year, will see Coolbet’s tech integrated into GAN’s turnkey technology solutions ahead of its for launch into the US online gaming market.
Game Account Network (GAN), has acquired Estonian betting site Coolbet for a rather cool €149m.
The deal, which is set to be completed by the first quarter of next year, will see Coolbet’s tech integrated into GAN’s turnkey technology solutions ahead of its for launch into the US online gaming market. GAN will also retain Coolbet’s 175 global employees and 84,000 active customers.
“From the onset of our IPO we have continued to enhance and perfect our internet gaming software-as-a-service solutions for the US market,” said GAN CEO Dermot Smurfit.
“As part of that growth strategy, we have been clear we needed to add a best-in-class sportsbook engine to round out our real money online gaming platform, and we believe Coolbet is the perfect fit for both GAN and our customers.
“We are excited to welcome the Coolbet team to GAN and look forward to building one of the most complete solutions in our industry. We view this acquisition as part of our unwavering commitment to shareholder value and our long-term growth strategy.”
