Danish educational platforms company Better Collective has purchased Swedish sports betting and casino marketing platforms developer Ribacka Group.

The acquisition price amounts up to 30 million euros ($34.5 million) of which $17.2 million has been paid in cash at completion.

In addition. $6.9 million will be paid in May 2019 in either cash or ordinary shares in Better Collective, and $10.3 million will be paid in 2020, awaiting some agreed performance benchmarks.

Ribacka will retain its headquarters in Stockholm under the name Better Collective Sweden after the transaction.