Kindred Group, which operates popular online poker site Unibet, agreed to acquire British gaming company 32Red for a cash offer of $219 million on Thursday.
32Red, which is licensed in Gibraltar, the U.K. and Italy, operates poker, bingo, casino and sports betting sites. Kindred paid a premium of 16 percent over the latest share price on the London Stock Exchange.
"The acquisition of 32Red is consistent with our multi-brand strategy and stated desire to grow our business in locally regulated and soon to be regulated markets," said Henrik Tjarnstrom, CEO of Kindred.