The deal sees Flutter purchase 100% of shares in Singular, according to an announcement by Crowe UK and Partis Capital, who acted as advisors to the Malta-headquartered business’ shareholders.
The acquisition comes soon after Flutter subsidiary Adjarabet, a leading operator in Georgia, signed a five-year extension of its existing software agreement with Singular.
“This deal is a huge recognition of Singular and what we managed to build and it furthermore sets the foundation for an exciting next chapter,” said Darko Gacov, co-founder and chief business development officer of Singular.
“We look forward to exploring new challenges and opportunities, now being a part of the largest online betting and gaming company in the world.”
iGamingBusiness contacted Flutter for comment on the acquisition, but it was yet to respond at time of publication.
Under the terms of its extension with Adjarabet signed earlier this year, Singular continues to serve as the lead iGaming and sports betting platforms supplier for the operator in Georgia and support its expansion in newly regulated markets. Singular has supported Adjarabet since it launched its digital service in 2011.
Venture capital fund Vereeni Investments acquired a 20% stake in Singular in December 2018.
Original article: https://igamingbusiness.com/flutter-acquires-gaming-platform-provider-singular/
