WA.Technology Unveils Ambitious Acquisition of Onseo

WA. Technology, a leading platform provider within the iGaming industry, will be acquiring technology developer Onseo in a reportedly multi-million euro deal. While the exact terms of the deal remain undisclosed, industry insiders agree that this ambitious move could lead to significant long-term gains for WA.Technology, solidifying the company’s presence in a highly promising jurisdiction.

The Two Companies Are a Natural Fit

A recent report by news outlet Next.io revealed that WA.Technology aims to jumpstart its official entry into the  Brazilian iGaming market ahead of the nation’s upcoming gambling regulation. Incorporating Onseo should significantly bolster WA.Technology’s growing portfolio with new capabilities in game production, sportsbook, and platform expertise.

Onseo, known for its rapid development capabilities, boasts over 700 developers who, going forward, will also support the WA.Technology platform, sportsbook, casino, and sweepstake verticals. Tim Scoffham, CEO of WA.Technology was optimistic regarding this newest development, highlighting the past collaborations between the two companies and their shared values.

(Onseo’s) ability to deliver high-quality technology quickly makes them a force to be reckoned with. Their client base is a clear testament to their quality.

Tim Scoffham, WA.Technology CEO

This acquisition further bolsters WA.Technology’s ability to provide bespoke solutions with quick turnaround times. This substantial edge will be crucial in navigating the highly competitive Brazilian market.  Onseo currently develops games for industry giants such as Aristocrat, bet365, Bally’s, IGT, LiveScore, and Gamesys. WA.Technology will likely attempt to maintain these connections, setting itself up for sustained growth.

Brazil Remains a Magnet for Operators and Suppliers

The deal continues an accelerating trend of M&As in the iGaming space. Brazil has been a focal point of such deals. For example, Flutter Entertainment made two significant acquisitions targeting the Brazilian market, acquiring Playtech’s consumer arm and a 56% stake in NSX Group, which operates the highly popular Brazilian betting Betnacional.

Brazil’s Ministry of Finance recently announced that from 1 October, any sportsbook company that has not applied for a license will be considered to be operating illegally. This warning has spurred significant competition as operators and suppliers scramble to be among the first to secure their position during the market’s highly anticipated launch.

CEO Scoffham heralded the deal as a new chapter for WA.Technology. He noted that Onseo’s extensive expertise would drive new and innovative experiences for clients worldwide, helping the company remain competitive. WA.Technology should be perfectly positioned to expand its footprint and adapt to the evolving demands of the global iGaming market, particularly in Brazil.