As part of the new contract, the betting technology company will initially pay 3 million australian dollars. The rest of the agreed upon amount will be due over the next three years as earn-out installments and will vary depending on the company’s performance. The total cost of the deal could reach in the neighborhood of 20 million australian dollars.
Punting Form is a firm that specializes in creating various services related to horse racing wagering. The company utilizes specifically designed artificial intelligence algorithms to provide times and various other data for a number of horse racing events. Their services are employed at various betting operators and analytical firms.
The agreement will strengthen the technology company’s offerings and services, further reinforcing their position as an industry leader in the wagering data space. Furthermore, the purchase will greatly boost the acquiree’s operations as well, as BetMakers will be able to support them financially.
We are quite delighted to be acquiring Punting Form. Their offerings are quite important for the horse racing betting vertical, as pretty much every rating system requires sectional times. This partnership is quite fitting for both companies, as we will greatly benefit each other’s customer bases and help us expand together. We are looking forward to working with the team at our soon-to-be subsidiary, as they are highly experienced professionals ready to deliver great results.
stated the chief executive officer of BetMakers, Todd Buckingham, commenting on the deal.