Nordic Leisure announced it has made an offer to acquire sportsbetting solutions provider Betting Promotion.

The Swedish gaming operator is offering one share in Nordic Leisure for each share in Betting Promotion, Reuters reported. The offer is equivalent to SEK 60.9 million (£5 million), which represents a 27 percent premium on BP’s closing share price for Oct. 12.

Nordic Leisure told reporters last week that the company and its investors—representing 74 percent of Nordic’s shareholdings—have agreed to acquire Betting Promotion, according to SBC News.

The bid for Betting Promotion is seen as a crucial step for the Swedish company as it seeks to expand its B2C services to B2B.