Online gambling entrepreneur Teddy Sagi intends to make $100M+ in acquisitions this year via his latest venture, online payment service provider SafeCharge.
According to Reuters, CEO David Avgi said the company has $125 million in cash and several opportunities to enter the European and Asian markets.
"I believe we will look for companies similar to SafeCharge's core business," Avgi said.
SafeCharge may opt to raise funding through bonds or equity. Current clients include Ladbrokes, games developer Gaijin and foreign currency broker FXDD.
Numis Securities analyst Trevor Jones said the company has "a more comprehensive, international service than many of its much larger competitors," and noted the potential growth it has.