Swedish mobile gambling specialists LeoVegas have further bolstered their UK market presence by acquiring the online casino operations of Intellectual Property & Software Limited (IPS).

On Friday, LeoVegas announced that it had reached a deal to acquire the IPS assets, which include online gaming brands 21.co.uk, Slotboss, Bet UK and UK Casino. The deal will also see LeoVegas absorb the assets of Alderney-based European Domain Management Ltd (EDM) and Newcastle-based marketing services business Rocket 9 Ltd.

IPS generated revenue of £11.7m in Q4 2017, nearly 50% higher than it reported in Q4 2016. The combined operations of IPS, EDM and Rocket 9 reported adjusted earnings of £3.8m, representing an earnings margin of 32.6%. The companies had a combined payroll of 85 employees.

The deal will cost LeoVegas a total consideration of £65m, which the company will finance from cash and existing loan facilities. The company secured debt financing of €100m last October, when it reached a deal to acquire the operations of UK-facing online casino operator Royal Panda.