Search Share Prices
Veltyco acquires customer database to kick-start online trading brand
Gambling industry marketing firm Veltyco announced on Friday that it has agreed to acquire a database of active online trading clients as part of its plan to launch a new regulated brand in the online trading sector.
Veltyco said the 4m acquisition of Marsovia Holding from Altair Entertainment will be made by offsetting existing debts owed to the company by Altair, making the acquisition cash neutral for the AIM-traded company.
One of the biggest draws of the acquisition is Marsovia's database of around 43,500 customers, of which approximately 26,000 are considered to be active in the online trading sector, Veltyco said.
The acquisition is the first step in launching a new regulated brand, which is targeted for the second half of the year.
Veltyco chairman Gilles Ohana said: "We believe that the acquisition will provide further opportunities for growth and is an important step in the continued development and expansion of our own brands. Trading conditions remain positive for Veltyco and we are very much looking forward to the start of the World Cup on 14 June 2018 whereupon we hope to benefit from the uptake in gaming activities."
As of 0834 BST, Veltyco's shares were up 2.35% at 76.25p.