Online gambling technology provider Playtech has acquired Austrian sports betting software outfit Best Gaming Technology (BGT).

On Wednesday, Playtech announced that it had dipped into its vast cash stockpile to pay €138m for 90% of BGT, which provides proprietary software for around 24k self-service betting terminals (SSBT) in retail betting shops.

BGT founder Dr. Armin Sageder will hang on to the other 10% and will stay on as CEO for at least three years following completion of the transaction.

Playtech has a call option to purchase Sageder’s 10% share at a value of 6x BGT’s 2019 earnings, with a €55m cap. Sageder could earn a further €5m based on BGT hitting certain performance targets.