B90 Secures £2m Funding and Finalizes Emwys Acquisition
Date: 2023-09-15 Author: Dima Zakharov Categories: CASINO, EVENTS
In a groundbreaking development, B90 Holdings, an operator and affiliate, has successfully raised £2 million in funds and concluded its acquisition of Emwys AB, a prominent Swedish marketing firm in the online gambling sector. The announcement of this milestone was made on July 12, and it marks a significant turning point for B90 Holdings.
Funding Success
The achievement of raising £2 million was made possible through the placement and subscription of 36,731,551 new ordinary shares, each priced at approximately £0.05. These funds will be allocated to three primary areas of B90's business.
Out of the total amount, £1.1 million will be directed towards inorganic growth opportunities, which typically encompass mergers, acquisitions, and partnerships. This strategic move is expected to fuel B90's expansion in the industry.
Additionally, £0.4 million will be invested in B90's own assets, which may include its sports betting brands such as Bet90, Spinbookie, and Oddsen.nu. This investment aims to enhance the company's existing assets and offerings.
The remaining £0.5 million will be allocated to cover general working capital and expenses incurred during the fundraising process, ensuring the smooth operation of B90 Holdings.
Emwys Acquisition
B90 Holdings has also successfully completed the acquisition of Emwys AB, a Swedish-based marketing company specializing in the online gambling sector, operating on a pay-per-click model. This strategic move holds immense potential for B90 Holdings, significantly expanding its scale and operations.
Ronny Breivik, Executive Chairman of B90, emphasized the significance of this acquisition, stating, "The acquisition of Emwys presents substantial opportunities for B90. It is a step change for our business both in terms of scale and operations. By acquiring new knowledge and investing in this proven marketing concept, we aim to drive strong revenue growth, whilst continuing to generate profits from our existing marketing operations. This is an important first step in our 'buy and build' M&A strategy."
The acquisition was settled with €1.25 million in cash, accompanied by €1.6 million in equity, which consists of 25,271,203 ordinary shares and was agreed upon with Funko International.
Funding Success
The achievement of raising £2 million was made possible through the placement and subscription of 36,731,551 new ordinary shares, each priced at approximately £0.05. These funds will be allocated to three primary areas of B90's business.
Out of the total amount, £1.1 million will be directed towards inorganic growth opportunities, which typically encompass mergers, acquisitions, and partnerships. This strategic move is expected to fuel B90's expansion in the industry.
Additionally, £0.4 million will be invested in B90's own assets, which may include its sports betting brands such as Bet90, Spinbookie, and Oddsen.nu. This investment aims to enhance the company's existing assets and offerings.
The remaining £0.5 million will be allocated to cover general working capital and expenses incurred during the fundraising process, ensuring the smooth operation of B90 Holdings.
Emwys Acquisition
B90 Holdings has also successfully completed the acquisition of Emwys AB, a Swedish-based marketing company specializing in the online gambling sector, operating on a pay-per-click model. This strategic move holds immense potential for B90 Holdings, significantly expanding its scale and operations.
Ronny Breivik, Executive Chairman of B90, emphasized the significance of this acquisition, stating, "The acquisition of Emwys presents substantial opportunities for B90. It is a step change for our business both in terms of scale and operations. By acquiring new knowledge and investing in this proven marketing concept, we aim to drive strong revenue growth, whilst continuing to generate profits from our existing marketing operations. This is an important first step in our 'buy and build' M&A strategy."
The acquisition was settled with €1.25 million in cash, accompanied by €1.6 million in equity, which consists of 25,271,203 ordinary shares and was agreed upon with Funko International.
