Adventure Box to Expand in Asia with RWB Acquisition
Deal News | Feb 18, 2025 | Globenewswire
Adventure Box Technology AB, listed on the Nasdaq First North Growth Market as ADVBOX, has announced its entry into a non-binding letter of intent to acquire RWB Smart Solutions Inc., a leading Asian casino solutions provider, for a total cash consideration of $18 million. This acquisition aligns with Adventure Box's strategy to heighten its international presence and innovate within its product offerings. With the transaction slated to close in early Q2 2025, pending regulatory approvals and financing, the Swedish company aims to assimilate RWB's operations into its global network, thereby enhancing operational efficiencies and market share in the rapidly evolving Asian iGaming industry. RWB's expertise, highlighted by a 300% growth in gross gaming revenue and a sophisticated software platform, positions Adventure Box for substantial synergy realization and market expansion. This strategic move will see RWB become Adventure Box's flagship B2C entity for the Asian market, with a focus on regulated regions.
Sectors
- iGaming
- Technology
- Entertainment
Geography
- Sweden – Adventure Box Technology AB is headquartered in Stockholm, Sweden, and trades on the Nasdaq First North Growth Market.
- Asia – RWB Smart Solutions Inc., the acquisition target, is based in Asia, with Adventure Box keen to expand its market presence there.
Industry
- iGaming – The article discusses Adventure Box Technology's acquisition of RWB Smart Solutions, a provider of casino solutions, indicating active involvement in the iGaming sector.
- Technology – Adventure Box Technology is noted for its online game creation platform and streaming technology, pointing to significant activities in the technology sector.
- Entertainment – The nature of products offered by both Adventure Box and RWB suggests a positioning within the broader entertainment industry.
Financials
- $18,000,000 – Total cash consideration to acquire 100% of RWB Smart Solutions.
- $20,000,000 USD – Reported 2024 revenue for RWB Smart Solutions.
- $10,000,000 – Reported EBITDA for RWB Smart Solutions in 2024.
- $1 Billion USD – Turnover reported by RWB Smart Solutions.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Adventure Box Technology AB | Bidding Company/Buyer | Company | A Swedish technology company listed on Nasdaq First North Growth Market, specializing in an online game creation platform. |
| RWB Smart Solutions Inc. | Target Company | Company | An Asia-based casino solutions provider known for its proprietary software platform and extensive industry partnerships. |
| Duncan McIntyre | CEO | Person | CEO of Adventure Box Technology AB, providing leadership for the strategic acquisition. |
| James Chung | Strategic Advisor | Person | Strategic Advisor to RWB, involved in discussions about post-acquisition collaboration. |