Novomatic acquires online platform firm Betware

Austrian gaming giant Novomatic has acquired a 90% shareholding in Icelandic platform supplier Betware for an undisclosed fee.

The purchase, which has been made through Novomatic’s subsidiary Novo Lottery Solutions, leaves a 10% shareholding with Betware management.

Betware, whose clients include Spanish lottery giant Cirsa and the Danish lottery Danske Spil, will become part of the Novomatic group that includes online and mobile gaming supplier Greentube.

Novomatic operates and supplies gaming machines for more than 1,400 traditional and electronic casinos in 43 countries and owns the Admiral sports betting brand in Austria.

Novomatic’s CTO Thomas Graf said the deal would help increase Novomatic’s footprint in the lotteries sector, claiming the integration of Betware’s online software is a “logical step” to enhance the company’s electronic and video lottery technology.

“With our combined resources, know-how and industry expertise we will be able to offer any lottery operator a 360-degree-solution for all distribution channels including online, mobile and land-based, which will be a clear advantage in an increasingly competitive operating environment,” he said.

“We are confident that this transaction will create new value in the lottery market, linking together the strength of Novomatic with Betware’s innovative lottery solutions. I strongly believe together we will become the market leader within the lottery segment,” Stefan Hrafnkelsson, Betware’s CEO added.

Betware, which employs around 120 staff at its offices in Iceland, Denmark, Spain and Serbia, said the deal was signed on 7 November after almost a year of talks.

“The original plan was to strengthen the company with new capital but soon showed great interest in various foreign entities to acquire a controlling stake and the company was then placed in a formal sales process is now complete,” the company said in a statement.