Kindred Group plc aka Kindred announced that it has signed an agreement to acquire a leading B2B growing iGaming supplier, Relax Gaming with the remaining 66.6 percent of the outstanding shares. The acquisition will improve and boost Kindred’s strategy to increase its focus on product and customer experience (CX) through enhanced product control and product differentiation capabilities of Kindred.
The following strategic acquisition is going to optimize annual run-rate synergies of €8 million in the upcoming three years for the Group driven especially by lower investment needs and reduced cost of sales.
Henrik Tjärnström, CEO at Kindred Group, said, “Through this acquisition we add a rapidly growing and profitable B2B business with a world-class product portfolio, giving us greater control over our casino, poker, and bingo offering, putting Kindred in a significantly better position to achieve our long-term strategy to increase our focus on product differentiation and customer experience.”
A global market leader in B2B iGaming software supplier, Relax Gaming helps to designs and develop online casino games, with the support from an open distribution platform for third-party aggregation along with proprietary poker and bingo products.
Patrik Österåker, Co-founder and Chairman of the Board at Relax Gaming, stated. “Joining Kindred Group comes as a natural next step in our long-standing cooperation with Kindred across all our product verticals. Kindred’s strengthened presence will allow Relax Gaming to further invest in and accelerate the expansion of our B2B offering across the globe. We will continue the Relax Gaming journey as a separate B2B entity with an unchanged product portfolio and overall strategy, staying true to our values and respecting the hard-earned trust of our customers. Our continued independence is a key element of the transaction, and I am happy to remain on the board of Relax Gaming.”