B90 Holdings has announced that it has entered into an agreement with Performance Media SIA to acquire certain assets, including the domain, business IP and 100% of the operations of Oddsen.nu, a Norwegian sports-bet affiliate site.
B90 also mentioned it had raised £1.24m through a subscription of 8,888,465 new ordinary shares of no-par value in the capital of the company with certain existing and new investors.
“The acquisition of Oddsen continues the transformation of our business. Coupled with the fundraise, which gives a strong indication of the support that our stakeholders have for our growth strategy, our business now has a real operational and financial platform from which to grow. This transaction adds a valuable new domain to our online real estate; increases our affiliate marketing capability; and takes our operations into Norway, which is an attractive, stable and well-established market for sports betting. We believe that the acquisition is an important step into owning proprietary software and taking control over valuable parts of the value chain in our industry. We consider it a strategic acquisition that can be used as a platform to be rolled out in other markets as well,” Paul Duffen, Executive Chairman of B90 Holdings, said.