BetMakers Technology, a leading player in the horse racing industry, has announced its definitive share purchase agreement to acquire Punting Form from ABettorEdge Pty. This strategic move will grant BetMakers access to Punting Form’s horse racing intelligence and rating system, leveraging proprietary IPs and artificial intelligence. BetMakers intends to integrate Punting Form’s technology into its horse racing platform, providing enhanced services and expanding its B2B offerings.
Unlocking Synergies:
BetMakers Technology will leverage Punting Form’s technology to strengthen its horse racing platform, offering a more comprehensive suite of services to its clients. Punting Form will continue to operate independently as a B2B entity, catering to syndicates, operators, content creators, and form analysts globally. This acquisition signifies BetMakers’ commitment to enhancing its offerings and improving its horse racing ratings engine.
Financial Details:
As part of the agreement, BetMakers will pay a cash consideration of AUS $3 million (€2 million) to technology vendors JJ Ventures Hong Kong and H Kelly Family Holdings. An additional AUS $17 million (€11 million) is contingent on the achievement of “achievable targets” over the next three years, based on revenue (x4) and profitability (EBITA x8).
Strategic Integration:
BetMakers plans to integrate Punting Form’s services and data across all its divisions. The immediate focus will be on Managed Trading Services within the Global Betting Services division, with an aim to enhance pricing across its ratings engine. Additionally, Punting Form will expand its services to include sectional time ratings for North American and other global jurisdictions, such as New Zealand, the UK, and Ireland, as well as additional racing formats like greyhounds and harness racing.
CEO’s Perspective:
Todd Buckingham, CEO of BetMakers Technology, expressed his enthusiasm for the acquisition, highlighting the significance of sectional times in any ratings system. He emphasized the synergies across BetMakers’ business and the substantial benefits that both internal and external clients will gain from this strategic move. The experienced team at Punting Form, known for delivering B2B wagering solutions, will play a vital role in BetMakers’ future endeavors.
BetMakers Technology’s acquisition of Punting Form marks a pivotal moment in the horse racing industry. The integration of Punting Form’s technology promises to enhance BetMakers’ offerings and provide clients with an enriched horse racing experience. With a strong focus on achieving set targets over the next three years, this acquisition reflects BetMakers’ commitment to advancing the horse racing industry through innovative solutions.