Australian gaming technologies and software firm BetMakers Technology Group Limited has announced the signing of a share purchase arrangement that is to see it buy horserace rating systems provider ABettorEdge Proprietary Limited.
The Sydney-listed company used an official press release (pdf) to declare that the deal for the pioneer trading as Punting Form will involve an initial cash consideration of approximately $1.9 million alongside a three-year earn-out pledge worth as much as $10.7 million and to be based upon ‘the delivery of operational, revenue and profitability targets’.
BetMakers Technology Group Limited disclosed that Punting Form offers proprietary sectional timing and benchmark technologies that allow professional wagering syndicates and operators as well as content creators and form analysts around the world to create time-based horseracing ratings systems. The enterprise also stated that this acquisition is to ‘further strengthen’ its own standing as ‘one of the leading global providers of business-to-business data and technology services’ to this sport as these advances may be utilized in conjunction with its own ‘to deliver enhanced features’ including speed maps, runner comments, integrity benchmarking and more accurate pricing algorithms.
Todd Buckingham serves as the Chief Executive Officer for BetMakers Technology Group Limited and he used the press release to proclaim that the innovations offered by Punting Form are ‘an integral part of data requirements for professional horseracing participants’. The boss went further to assert that his enterprise is to begin integrating all of these advances with an ‘immediate focus’ on the managed trading services vertical.
Newcastle-headquartered BetMakers Technology Group Limited has been busy this year after agreeing an alliance that saw New Jersey’s historic Monmouth Park Racetrack utilize its advances so as to premiere fixed-odds retail sportsbetting. The Australian innovator additionally divulged that it soon intends to expand the services offered by Punting Form to include formats such as greyhound and harness racing while rolling out sectional time ratings for thoroughbred horseracing events in North America and other important territories including New Zealand, Ireland and the United Kingdom.
BetMakers Technology Group Limited furthermore pronounced that it views the purchase of Punting Form as ‘strategically important’ because the acquisition should help it to ‘drive margin improvement’ while simultaneously creating ‘new revenue streams’. The buyer finished by noting that these benefits could even run to more efficient pricing in addition to improved back-end tools and relative trading margins for its managed trading services clients.
Read a statement from Buckingham…
“Sectional times are at the forefront of any ratings system and required by any serious ratings engine. The synergies across our business are exceptional with both internal use and our external client base benefiting greatly from this acquisition. The team at Punting Form are very experienced in delivering business-to-business wagering solutions and we excited to have it on board.”