Sports spread betting firm Sporting Index Holdings Limited has announced that it has boosted its business-to-business arm with the acquisition of algorithmic sports trading and risk management provider Touchbet Limited for an undisclosed amount.
London-based Sporting Index Holdings Limited offers technology that allows sports fans the chance to wager on thousands of markets every week encompassing a wide variety of sporting, political and show business events. The privately-owned enterprise declared that newly-acquired Touchbet Limited, which has offices in Sweden and Malta, is set to be operated “in a complementary space” to its existing Sporting Solutions business-to-business subsidiary and enhance this concern’s existing risk management service that supplies outsourced pricing and trading expertise to sportsbooks while moreover managing their customer-generated liabilities.
“Touchbet Limited has extensive experience of providing highly-automated risk management services both for lotteries that offer sportsbetting and for private operators in regulated jurisdictions,” read a statement from Simon Trim, Chief Executive Officer for Sporting Index Holdings Limited. “This acquisition strengthens the group’s competitive advantage in trading and risk management and builds on the excellent momentum and exciting growth we have achieved over the past twelve months.”
Established in 2006 with the help of Magnus Hedman, Sporting Index Holdings Limited’s majority shareholder, Touchbet Limited manages risk on approximately $4.45 billion in betting volumes every year utilizing a range of proprietary core systems.
“We believe that combining the capability of Touchbet Limited further improves Sporting Solutions’ market-leading proposition,” read a statement from Ralfh Backlin, Chief Executive Officer for Touchbet Limited. “Together we provide an end-to-end sportsbetting solution for the business-to-business market that is unsurpassed in terms of breadth, depth and expertise.”