An international gaming firm has taken a majority stake in Bede Gaming.
Founded in 2011, Newcastle-based Bede develops and markets online casino, sports betting and lottery platforms.
Gauselmann Group said it would create new opportunities for the opening of the German online gaming market in 2021.
Bede will operate independently within the Gauselmann Group and keep its offices in Newcastle, Bulgaria and Canada.
Paul Gauselmann, chief executive and founder of the Gauselmann Group, said: “This acquisition will allow us to significantly broaden the existing technology base within the group and at the same time enable us to offer it to our customers and partners.”
Bede Gaming is also a partner to the Ontario Lottery and Gaming Corporation in Canada.
Joe Saumarez-Smith, Bede Gaming chairman, said: “We are delighted that the Gauselmann Group has acquired a majority stake in Bede.
“Gauselmann’s long-term prospects and financial strength will allow us to further enhance our range of products and services to existing customers, as well as win new business partners.”