NetPlay TV eyes further M&A activity
CEO Bjarke Larsen tells EGR it has "significant" cash to spend as it weighs up acquisition targets
NetPlay TV will use its “significant” cash balance to further accelerate the firm’s acquisition strategy, CEO Bjarke Larsen has told eGaming Review.
The company this week reported a 15% increase in revenues for the first half of the year with a better than expected performance from its newly-acquired B2B business one of the key drivers behind its growth.
And speaking to EGR, CEO Bjarke Larsen said the company is looking for acquisitions that can “add shareholder value” in both the B2B and B2C space.
“We’re open to reviewing opportunities and the key for us is that it is the right opportunity for all of our shareholders,” said Larsen.
“There’s still a significant amount of cash on the balance sheet and the business continues to be cash generative.
“There’s been a significant amount of activity in the space and we continue to monitor, and if and when the time is right, we will look to move.”
Larsen warned the firm will not pay “over the odds” as it looks to replicate the success of its B2B acquisition from last year, which reported £2.1m in H1 revenues.
At the back end of 2015, the business announced it was in talks with Sportech over a potential acquisition of The Football Pools, but pulled the plug on the deal just weeks later.
Elsewhere, its SuperCasino brand has launched a new app for Apple TV in a move Larsen says will complement its terrestrial broadcast position.
“What we want to do is create a platform where customers could have access to our content 24 hours a day in the comfort of their home on a large screen,” he said.
“What we have done is effectively open up a portal for our customers to access all of our roulette wheels, streams that are live to their TV and can interact with their mobile device or desktop,” he added.