Française des Jeux acquires Sporting Group
French gambling giant La Française des Jeux (FDJ) has struck a deal to acquire Sporting Group, the parent company of spread betting operator Sporting Index and sports betting technology and trading service provider Sporting Solutions.
The deal has been struck by FDJ’s B2B subsidiary FDJ Gaming Solutions, which will acquire Sporting Group for an undisclosed sum.
The business was previously owned by Swedish businessman Magnus Hedman, who acquired the business from private equity firm Hg Captial in 2015.
FDJ plans to use Sporting Group’s assets to offer a suite of multi-channel sports betting tools and technology, including pricing, trading and risk management tools, to lotteries under the FDJ Gaming Solutions banner.
The product suite will be available to private operators under the Sporting Solutions brand, with the business able to maintain supplier relationships with third party technology providers upon completion of the acquisition.
"We are very pleased to have completed this acquisition, which underlines FDJ’s ambition in the B2B sports betting sector," said FDJ Group executive vice-president of technology and chief executive of FDJ Gaming Solutions, Xavier Etienne.
"FDJ recognises the excellence that Sporting Group has in pricing and trading," he added. "That is why this operation is key for our B2B international development."
Sporting Group chief executive Simon Trim said he was thrilled that the business was to be acquired by FDJ.
“It is clear we have a shared vision on the future shape and evolution of the industry, in particular the important role that expert risk management and price differentiation will play going forward," Trim explained.
"The acquisition allows us to continue delivering our world-leading B2C spread betting proposition and B2B trading services, and we look forward to delivering exciting new products and services as part of the enlarged business."