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XL Media has bought an unnamed UK sports betting website.

XL Media, the online gaming market service provider, has bought an unnamed UK sports betting website.

XL Media paid £5 million for the acquisition of the UK site.

Whilst the firm have not yet announced the name of the company purchased, in a statement XL Media described it as a “leading” site that specialises in sports gambling, with a focus on the UK web and mobile traffic.

Included in the deal is a second website which is casino-orientated.

According to XL Media’s statement released, both websites have been live since 2006.

For the 12 months ended June 30, 2014, the sites posted unaudited earnings before interest, tax, depreciation and amortisation of £920,000.

As part of the purchase, XL Media will acquire the website domains and the websites themselves, including social networks accounts, content management systems, as well as the intellectual property rights.

Furthermore, during the initial six-month period from closing, the vendor will provide support, training and maintenance services to help ensure a smooth migration over to XL.

XL Media believe that the deal will strengthen its presence in  the UK gambling industry, as well as boost its sports offering.

A chief executive officer of XLMedia, Ory Weihs, said: “Since our IPO in March this year, we have continued to extend our network with complementary additions.

“With our current network focused on casino products, we see good opportunities in the market to buy additional assets in the sports betting arena. In addition, the UK market is a mature, established market where we see growth opportunities going forward.”

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