William Hill buys gaming software company Grand Parade

William Hill has acquired betting and gaming digital solutions company Grand Parade for £13.6m in cash and shares.

Established in 2007, Grand Parade is a software house that creates apps, websites, and e-commerce platforms for the sports betting, gaming and media industries.

Under the terms of the deal, the bookmaker will issue 495,048 new ordinary shares of 10p each to Grand Parade.

William Hill’s interim chief executive officer, Philip Bowcock, said: “Bringing the Grand Parade team into William Hill will rapidly ramp up the scale of our development team by backfilling existing resource gaps and also enhance our creative capabilities.

“This enables us to capitalise on the potential of our Trafalgar front-end platform by accelerating our product development and also to support the work with OpenBet to build our new back-end platform."

At 1210 BST, William Hill shares were down 0.7% to 308p.