BetMakers Technology (ASX:BET) Acquires Punting Form in Potential $20M Deal – The Market Herald

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  • BetMakers Technology (BET) will acquire Punting Form via a share purchase agreement to become part of its global betting services division
  • Under the terms of the agreement, BetMakers will initially pay the vendors of Punting Form $3 million in cash and potentially $17 million in earn-out payments over the next three years
  • As part of the acquisition, BetMakers will integrate the punting form services and data into all of its operations, with an immediate focus on managed trading services
  • According to BetMakers, the acquisition will strengthen its position as a leading global provider of business-to-business (B2B) horseracing data and technology services
  • BetMakers shares are up 2.99 percent, trading at 34.5 cents as of 12:47 AEDT

BetMakers Technology (BET) has announced its plans to acquire race data specialist Punting Form via a share purchase deed in a potential $20 million deal.

The Company will pay Punting Form’s vendors an initial $3 million in cash and potentially $17 million in earn-out payments over the next three years based on the achievement of operational, revenue and profitability targets.

BetMakers said the deal would strengthen its position as a leading global provider of business-to-business (B2B) horseracing data and technology services.

As part of the acquisition, BetMakers will integrate the punting form services and data into all of its operations, with an immediate focus on managed trading services.

Additionally, Punting Form will expand its current services to include part-time judging for North American and other global jurisdictions, including New Zealand and Ireland, as well as additional racing formats including greyhound and harness racing.

“The synergies across our business are exceptional, with both internal usage and our external customer base benefiting greatly from this acquisition,” said Todd Buckingham, CEO of BetMakers.

“The Punting Form team is very experienced in providing B2B betting solutions and we are delighted to have them on board at BetMakers.”

BetMakers said the purchase would give it the opportunity to leverage the existing punting relationships that drive racing syndicates to encourage more liquidity in existing and new markets.

In addition, the company said it will benefit from revenue and earnings synergies beyond the earnings contribution of the standalone punting business on which the earnout is based.

BetMakers shares are up 2.99 percent to trade at 34.5 cents as of 12:47 AEDT.



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