The British bookmaker paid £13.5 million (€16 million) for the betting and gaming digital solutions company.
UK.- The British bookmaker, William Hill has acquired betting and gaming digital solutions company Grand Parade for £13.5 million (€16 million). The transaction will comprise both cash and shares and William Hill will issue 495,048 new ordinary shares of 10 pence each to Grand Parade.
Grand Parade creates applications, websites and e-commerce platforms for the sports betting, gaming and media industries. The company was founded in 2007.
“Bringing the Grand Parade team into William Hill will rapidly ramp up the scale of our development team by backfilling existing resource gaps and also enhance our creative capabilities,” said Philip Bowcock, interim chief executive of William Hill. “This enables us to capitalise on the potential of our Trafalgar front-end platform by accelerating our product development and also to support the work with OpenBet to build our new back-end platform.”