In a strategic move to extend its global footprint, SOFTSWISS, a prominent player in iGaming technology, has acquired a majority stake in Turfsport, a leading South African provider of comprehensive wagering software for sports, horse racing, and lotto.
This acquisition underscores SOFTSWISS's commitment to international expansion.
For more than three decades, Turfsport has been at the forefront, delivering fully managed end-to-end solutions for online, mobile, and retail operators.
With an annual bet placement exceeding 1.5 billion across various platforms, Turfsport's platform is currently utilized by over 40 operators in South Africa for horse racing, lotto, and sports betting.
Andrey Starovoitov, Co-CEO at SOFTSWISS, expressed enthusiasm about the strategic move, stating, "Acquiring a successful local company is one of the fastest and most efficient ways to enter a new market. I am pleased to announce the completion of this long-awaited deal.
With this agreement, SOFTSWISS takes a significant step forward in its extensive expansion into South Africa and the African continent. I believe this region is becoming the next focal point globally, following Latin America."
Starovoitov added, "What's even more valuable for us is that we not only gain market presence but also access technologies developed over the last 35 years by world-class specialists. We look forward to enhancing our product portfolio and continuing our commitment to providing high-end solutions to our partners."
Christian Neuberger, CEO at Turfsport, highlighted the search for an international partner to complement Turfsport's strong brand in South Africa, saying, "Turfsport was looking for an international partner that would complement our strong brand in South Africa, and we are absolutely delighted to have found the ideal partner in SOFTSWISS and its dynamic and fast-growing team."
Neuberger emphasized the collaboration's potential, stating, "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."
The acquisition of Turfsport strategically positions SOFTSWISS to fortify its product portfolio tailored to regional requirements. Leveraging Turfsport's strong reputation in the African market, SOFTSWISS aims to solidify its local presence.
Industry insights into the South African market by the SOFTSWISS team will be shared during ICE London 2024 at Stand N8-231.
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