Operator VBet announced the acquisition of Growe's brand Parimatch Brazil, and after the transaction is officially completed, the brand will start operating under the new VBet brand image.
VBet and Growe announced plans for a new acquisition agreement to acquire the latter's business in Brazil. According to the new agreement, Parimatch Brazilian players will start migrating to the VBet platform from December 2024.
According to the two companies, this acquisition is expected to be completed by December 2025, as VBet aims to enhance its influence in the Latin American region over the next 12 months and beyond.
This news follows last month's deal where VBet integrated Mindway AI's RG technology into its Dutch products. Additionally, this summer, VBet also announced becoming the official betting partner of the Malta national football team.
VBet CEO Aragats Asatryan commented on this latest news, saying: "This acquisition marks a key step in VBet's global expansion strategy, reinforcing our commitment to providing an excellent experience for users in high-potential markets like Brazil.
"We are delighted to welcome Parimatch's Brazilian customers to the VBet family and look forward to driving further growth and innovation."
It is worth noting that in 2023, PMI was renamed Growe, as the company aimed to move away from its B2B franchising model.
Growe CEO Anton Rublievskyi also commented on the new agreement, saying: "For our company, this marks our first successful sale of an upcoming operation.
"It demonstrates our strategic shift towards a new business perspective in markets across Latin America."
