France Pari has acquired 100% of the shares in Spanish operator Suertia.
Although France Pari did not disclose the financial details of the deal, it did say in a statement that the acquisition is part of the European development strategy for its various activities.
The company is already active in the French, Belgian and Maltese sports betting markets.
“The acquisition of a company like Suertia with such a potential growth on the dynamic Spanish sports betting market opens a new stream of development for our group, both for acting directly as an operator and also for providing our sportsbook and our technology to other operators,” the company said in a statement.
“Taking into account the new revenue stream coming from this operation, we target to generate more than €100 million ($109.6 million) in B2C and B2B revenues next year.”
Eduardo Losilla, former owner and chief executive of Suertia, added: “After five years of strong competition with multinational operators, I am proud to sell Suertia to an international fast-growing company, that will maintain the team, the spirit and values that have conducted Suertia to its first successes.”
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