Kindred Group acquires Relax Gaming

Kindred Group has signed an agreement to acquire the 66.6 percent of the remaining outstanding shares in Relax Gaming, a leading and rapidly growing B2B iGaming software supplier in which it has been invested since 2013 and already owned 33.4 percent of the outstanding shares prior to this transaction. This move will help Kindred Group accelerate its strategy to increase its focus on product and customer experience.

Relax Gaming designs and develops online casino games, supported by an open distribution platform for third party aggregation as well as proprietary poker and bingo products. Founded in 2010, the company employs 240 full-time employees with four main hubs in Malta, Estonia, Sweden and Serbia.

“Through this acquisition, we add a rapidly growing and profitable B2B business with a world-class product portfolio, giving us greater control over our casino, poker and bingo offering, putting Kindred in a significantly better position to achieve our long-term strategy to increase our focus on product differentiation and customer experience”, said Henrik Tjärnström, CEO at Kindred Group. “Joining Kindred Group comes as a natural next step in our long-standing cooperation with Kindred across all our product verticals. Kindred’s strengthened presence will allow Relax Gaming to further invest in and accelerate the expansion of our B2B offering across the globe. We will continue the Relax Gaming journey as a separate B2B entity with unchanged product portfolio and overall strategy, staying true to our values and respecting the hard-earned trust of our customers. Our continued independence is a key element of the transaction, and I am happy to remain on the board of Relax Gaming”, commented Patrik Österåker, Co-founder and Chairman of the Board at the Relax Gaming. 

Relax Gaming, which will remain an independent entity within the Group with a separate Board of Directors and management team, currently supplies poker and bingo content on an exclusive basis to Kindred along with casino content. With Relax Gaming as an important addition to the Group, Kindred will be able to further develop its own proprietary product portfolio. Kindred’s ambition is to continue to invest in Relax Gaming to cement its position as a leading B2B iGaming supplier by further strengthening Relax Gaming’s product offering and by broadening their B2B customer base.