GGRAsia – SOFTSWISS enters Africa market via Turfsport acquisition

SOFTSWISS enters Africa market via Turfsport acquisition

Jan 18, 2024 Newsdesk iGaming, Latest News

SOFTSWISS, a leading tech company in the iGaming industry, says it has acquiresd a majority stake in Turfsport, a South African provider of multichannel wagering software for sports, horse racing, and lotto.

“This move aligns with the SOFTSWISS goal of expanding its international presence,” stated SOFTSWISS in a Wednesday press release. The company did not disclose details of the deal.

SOFTSWISS said the acquisition of Turfsport 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, “with over 100 installations locally” and more than “40 deployments in Africa, Latin America and other emerging markets”.

According to Wednesday’s announcement, the total number of bets “placed by all Turfsport clients across various platforms exceeds 1.5 billion annually”.

The release quoted Andrey Starovoitov, co-chief executive at SOFTSWISS, as saying: “Acquiring a successful local company is one of the fastest and most efficient ways to enter a new market.”

He added: “With this agreement, SOFTSWISS takes a significant step forward in its extensive expansion into South Africa and the African continent. I believe this region is becoming the next focal point globally, following Latin America.”

Christian Neuberger, CEO at 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,” said Mr Neuberger.