SoftSwiss did not disclose the financial details of the purchase, nor the size of the stake it has acquired. However, it did say the deal strengthens its product portfolio and allows it to serve more markets.
Turfsport offers software solutions across sports betting, horse racing and lotto. The provider currently works with more than 40 operators in South Africa.
SoftSwiss co-CEO Andrey Starovoitov said the acquisition provides a fast and efficient way for the business to enter new markets.
“With this agreement, SoftSwiss takes a significant step forward in its extensive expansion into South Africa and the African continent,” said Starovoitov. “I believe this region is becoming the next focal point globally, following Latin America.
“We look forward to enhancing our product portfolio and continuing our commitment to providing high-end solutions to our partners.”
Turfsport eyes international growth with Softswiss
Turfsport CEO Christian Neuberger also praised the acquisition deal. He said working with SoftSwiss will allow Turfsport to access more opportunities on an international scale.
“Turfsport was looking for an international partner that would complement our strong brand in South Africa,” Neuberger said. “We are absolutely delighted to have found the ideal partner in Softswiss and its dynamic and fast-growing team.
“Both companies look forward to delivering innovative product enhancements and services, giving our customers the competitive edge to grow and succeed in an increasingly dynamic market.
“We are all truly excited about the winning combination of Turfsport’s local and Softswiss’ international expertise and the prospects for this duo in the South African and African markets.”
SoftSwiss added that it will share more information about the acquisition and South Africa market at ICE 2024. The provider will be based on Stand N8-231 at the event, which runs from 6-8 February at ExCeL London.
Original article: https://igamingbusiness.com/strategy/ma/softswiss-expands-into-africa-with-turfsport-acquisition/
