SOFTSWISS, a tech titan in the iGaming sphere, has announced it has secured a controlling stake in Turfsport, a South African sports, horse racing, and lotto wagering software supplier across multiple platforms.
The recent move, according to SOFTSWISS’s official statement on Wednesday, is line with their aspiration of broadening their international outreach. However, they chose not to publicly reveal the terms of the acquisition.
The Turfsport acquisition is said to be imperative for enhancing the SOFTSWISS product repertoire while appeasing local requirements.
Self-described as the “leading player” in South Africa, Turfsport boasts of more than “100 native installations” and over “40 deployments in African, Latin American, and other burgeoning markets”, as per their official website.
Per the Wednesday disclosure, the cumulative bets “placed by Turfsport clients on diverse platforms surpasses 1.5 billion each year”.
Quoting Andrey Starovoitov, the co-chief executive at SOFTSWISS, the announcement said, “Penetrating a fresh market is most effectively and rapidly achieved through acquiring an already prosperous local firm.”
He also mentioned, “With this strategic agreement, SOFTSWISS significantly advances its expansive foray into South Africa as well as the broader African continent. I perceive this region as the next strategic hotspot on a global scale, succeeding Latin America.”
Turfsport’s CEO, Christian Neuberger, in his prepared commentary, revealed that his company had been seeking to partner with an international entity that can complement their imposing brand standing in South Africa, thus allowing them to react more swiftly and foster innovation in the perpetually evolving iGaming industry.
