- BetMakers (BET) adds two further acquisitions to its growing list, marking its fourth proposed purchase this year
- BetMakers’ subsidiary, BetMakers DNA, enters into agreements to buy the technology platform assets, databases and intellectual property of racing data company Form Cruncher and wagering platform Swopstakes Australia
- The new assets will be integrated into BetMakers’ network, creating wagering products and content to be monetised internationally
- BetMakers is trading up 1.27 per cent at $1.20 per share at 11:00 am AEST
BetMakers (BET) has added two further companies to its growing list of acquisitions, marking its fourth proposed purchase this year.
BetMakers’ subsidiary, BetMakers DNA, entered into agreements to acquire the technology platform assets, databases and intellectual property of racing data company Form Cruncher as well as wagering platform for racing and sport sweepstakes, Swopstakes Australia.
For a $1 million payment and a performance payment of up to $1 million, BetMakers will acquire Form Cruncher’s websites, digital platforms, computer hardware and software, along with all domain names associated with the Form Cruncher business. BET will make a cash payment of $500,000 paid in two equal instalments and issue 443,262 ordinary BET shares.
BetMakers says it already supplies multiple sources of informatics globally, but notes the acquisition of Form Cruncher will allow it to bring this in house.
“Leveraging BetMakers’ existing infrastructure and data, the new assets will be plugged in to our network and create wagering products and content to be monetised throughout our global suite of customers, including racing bodies, racetracks, retail and digital wagering operators,” BetMakers Chief Executive Officer Todd Buckingham said.
To acquire Swopstakes, Betmakers has agreed to pay a cash payment of $634,750 and a performance payment of up to $15 million. This will grant BET access to Swopstakes’ proprietary betting product that allows customers to purchase betting tickets.
“We believe there is an opportunity to adapt the product for our clients and achieve scale through integration, promotion and distribution through BetMakers’ extensive global network,” Mr Buckingham said.
Betmakers said both acquisitions were valuable additions to its core business and it expected they would enhance its overall product offering across a global footprint.
The new assets will be integrated into the BetMakers’ network, creating wagering products and content to be monetised throughout the global suite of customers, including racing bodies, race tracks, retail and digital wagering operators.
BetMakers was trading up 1.27 per cent at $1.20 per share at 11:00 am AEST.