French sports betting operator France Pari has expanded into the Spanish market by acquiring local gambling operator Suertia.

On Monday, France Pari confirmed it had acquired 100% of Suertia for an undisclosed fee. Suertia, which was founded in 2011, has undergone 100% annual growth in each of the past two years and is poised to post its first profits this year, according to its new French owner.

France Pari CEO Hervé Schlosser issued a statement saying the acquisition fit with their international expansion strategy, which has seen the company establish toeholds in Belgium and Malta.

France Pari reported overall revenue of €20m in 2015, up from €18m in 2014, driven by an 80% rise in business at its SportnCo B2B division. France Pari said it believes the Suertia addition will allow it to boost B2B and B2C revenue to over €100m in 2017.