Punting Form to Be Acquired by BetMakers Technology Group
BetMakers Technology Group has signed a deal to purchase Punting Form. The Australian company has reached a share purchase agreement to take over Punting Form’s owner, ABettorEdge.
Through the acquisition, BetMakers is seeking to boost its position as a provider of B2B data and technology, specifically within the field of horseracing.
According to Punting Form, they use proprietary IP and AI technology to create sectional times and benchmarks for horseracing. These are then used to create “time-based ratings systems”.
BetMakers will be integrating Punting Form’s data and services into its operating divisions, but there will be a priority placed on Managed Trading Services. Furthermore, Punting Form is set to expand the current services to include sectional time rating for North America and other regions such as New Zealand, the UK and Ireland.
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 B2B wagering solutions, and we are excited to have them on board at BetMakers.
BetMakers will pay an initial consideration of AU$3 million to the vendors of Punting Form, JJ Ventures Limited and Kelly Holdings. There is also the potential for a further AU$17 million to be paid in earn-out payments over the coming three years depending on the delivery of operational, revenue and profitability targets.
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