BetMakers Technology to buy Punting Form

The company has reached an agreement with Punting Form’s owner, ABettorEdge.

Australia.- BetMakers Technology has advised investors that it has entered into a definitive share purchase agreement to buy Punting Form from ABettorEdge Pty. It will obtain all of the horse racing intelligence and rating system’s proprietary IPs and artificial intelligence.

BetMakers said it will use Punting Form’s tech to enhance its own horse racing platform and to provide other B2B services. Punting Form will continue to operate as a standalone B2B business providing global horse racing intelligence services for syndicates, operators, content creators and form analysts.

It will pay the technology vendors of JJ Ventures Hong Kong and H Kelly Family Holdings a cash consideration of AUS $3m (€2m). A further AUS $17m (€11m) earn-out will depend on “achievable targets” in the next three years based on revenue (x4) and profitability (EBITA x8).

An ASX transaction statement said: “BetMakers will integrate the Punting Form services and data across all operating divisions, with an immediate focus on Managed Trading Services (part of the Global Betting Services division) allowing pricing improvements across its ratings engine.

“Additionally, Punting Form will expand the current services to include sectional time ratings for North American and other global jurisdictions (including New Zealand, UK and Ireland) and additional racing formats (greyhounds and harness racing).”

BetMakers CEO Todd Buckingham said: “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.”