January 13 (SeeNews) - Online betting operator Telematic Interactive Bulgaria [BSE:TIB] said that it acquired 99.9% of the share capital of Peruvian subsidiary TIB Consult SAC, with the aim of streamlining its online betting activities in the South American country.
The transaction was worth 999 US dollars (922 euro), Telematic Interactive Bulgaria said in a bourse filing published after close of trading on Thursday.
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The Bulgarian company, owner of the Palms Bet online casino brand, entered the Peruvian market in October through the acquisition of offshore firm Palmsbet Curacao BV, as part of a strategy to boost its presence in Latin America. In the nine months to end-September 2022, Telematic Interactive Bulgaria increased its consolidated net profit by a quarter year-on-year to some 18 million levs ($9.97 million/9.2 million euro).
Shares in Telematic Interactive Bulgaria, which have risen in value by 4% in the past 12 months, closed flat at 15.90 levs on Thursday on the Sofia bourse. The gaming technology company has a market capitalisation of 206.1 million levs.
($ = 0.9224 euro)