SOFTSWISS is a leading tech company in the iGaming industry. The company said that is has acquired a majority stake in Turfsport. Turfsport is a South African provider of multichannel wagering software for sports, horse racing, and lotto.
SOFTSWISS did not disclose details of the deal, but said that this move aligns with their goal of expanding its international presence. The company also stated that the acquisition of Tursport aimed to strengthen the SOFTSWISS product portfolio while catering to regional needs.
Turfsport describes itself in its website as the market leader in South Africa. They have over 100 installations locally and more than 40 deployments in Africa, Latin America, and other emerging markets.
According to this recent announcement, the total number of bets placed by all Turfsport clients across various platforms exceeds 1.5 billion yearly.
Andrey Starovoitov is the co-chief executive at SOFTSWISS. He released a quote saying that acquiring a successful local company is one of the fastest and most efficient ways to enter a new market.
He also added that with this agreement, SOFTSWISS takes a significant step forward in its extensive expansion into South Africa and the African continent. Starovoitov also believes that this region is becoming the next focal point globally, following Latin America.
On the other hand, Christian Neuberger, CEO of Turfsport said in prepared remarks that his company was looking for an international partner that would complement the firm’s strong brand in South Africa. That was in order to provide more innovation and react faster to the growing demands of the iGaming industry.