Sportingbet has agreed to buy Centrebet International Ltd (ASX:CIL) for $2 a share.
Once the deal is completed Sportingbet will merge the Australian operations of Centrebet and Sportingbet into a single business, according to the Dow Jones Newswires.
The acquisition also supports the company’s growth strategy, with the deal adding to earnings in the first full fiscal year of 2013 after integration.
Sportingbet will pay $183 million for Centrebet.
In the half year to December 31, 2010, Centrebet recorded a net profit of $1.8 million.
