William Hill and GVC Holdings have tabled a £454m offer for online gaming company Sportingbet.
Sportingbet is one of the leading online bookmakers in Australia, while its Spanish business operates under the miapuesta brand through mobile and online platforms.
William Hill chief executive Ralph Topping said the companies were pleased to have reached an agreement with the Sportingbet board.
“This acquisition not only highlights William Hill's commitment to grow further internationally into regulated, high growth markets such as Australia, but also supports our strategic aim to diversify revenue sources into new territories and through greater multi-channel usage,” he said.
“Our unique combination with GVC provides a complete solution for Sportingbet and its shareholders and we look forward to working with the management and employees of Sportingbet in Australia and Spain to combine our joint experience and expertise to create additional value for our customers and shareholders."
Andrew McIver, CEO of Sportingbet, said the offer was a “good outcome” for the company’s shareholders.
