B2B igaming software developer Singular has confirmed that 100% of its shares will be transferred to Flutter Entertainment, completing its acquisition by the FTSE100 gambling giant.
Singular will become a technology asset of Flutter, helping power its tier-1 brand portfolio of Paddy Power, Betfair, Sky Bet and The Stars Group, and further represents the expansion of the gambling group’s operations within regulated CIS territories .
The company had previously collaborated with Flutter via the latter’s Adjarabet brand, having extended its contract with the operator by a further five-years in March 2021 to continue serving as its sports betting and igaming platform provider.
Darko Gacov, Co-Founder and Chief Business Development Officer of Singular, said: “This deal is a huge recognition of Singular and what we managed to build and it furthermore sets the foundation of an exciting next chapter. We look forward to exploring new challenges and opportunities, now being a part of the largest online betting and gaming company in the world.”
Advising Singular shareholders in the transaction were accountancy firms Crowe UK and Partis Capital, which partnered to provide guidance on M&A procedures, whilst DWF Director Justin Edgar and Partner Edon Byrnes provided legal counsel.
“Working with Crowe UK, Partis Capital and DWF on the deal has been a really rewarding experience and their help and guidance throughout the process was invaluable in achieving an excellent outcome for the shareholders,” Gacov continued.
Matteo Timpani, Corporate Finance Partner of Crowe UK, added: “It has been an absolute pleasure to support the Singular team throughout this transaction which represents another iGaming deal delivered by Crowe and Partis.
“The company and culture that the Singular shareholders managed to create is an amazing achievement. We look forward to watching both Singular and Flutter flourish following this important strategic acquisition and wish them every success in the future.”