The global sports betting, gaming and interactive entertainment group, Entain, unveiled details regarding a new acquisition. The company said Monday it plans to acquire the specialist provider of sports modeling, forecasting and data analytics, Angstrom Sports in a deal with a maximum payment of £122 million ($160 million).
Entain said that the acquisition of Angstrom Sports has a total consideration of £81 million ($106 million). However, an additional contingent payment can boost the total consideration to a maximum of £122 million ($160 million).
This contingent payment would be payable over a period of three years upon the closing of the acquisition. Judging by Entain’s recent announcement, the takeover deal is expected to close at some point during the third quarter of this year.
Angstrom Sports is popular as a specialist in next-gen sports modeling, as well as data analysis and forecasting. The company uses simulation-based predictive modeling that helps bring forecasting capabilities and sophisticated pricing. Currently, Angstrom Sports’ offering stands out with its richness, speed and accuracy for the US betting markets and products.
The Takeover Boosts Entain’s Capabilities
The acquisition comes at a busy moment for Entain. Only recently, the company confirmed its plans to acquire STS Group, the leading Polish sports betting operator, in a deal for some £750 million ($945 million). Now, with the acquisition of Angstrom Sports, Entain seeks to further enhance its in-house capabilities. In fact, thanks to the takeover, the company strengthens its pricing and analytics capabilities for its US-facing sports betting products.
Leveraging Angstrom Sports’ innovative data-driven capabilities is expected to provide a unique advantage for Entain which the company can use for markets across the US. “Enriched in-house capabilities will provide a significantly greater number of betting opportunities, optimized parlay and in-play products as well as accelerating pricing expertise and risk management, delivering margin enhancement over the long term,” explains the company.
Sion Colley, Angstrom Sports’ CEO, said that the company is delighted to team up with Entain and supercharge the company’s offering in the US. The CEO spoke about common goals that the companies have and predicted that the collaboration will bring thrilling experiences for Entain’s customers.
“We are delighted that Angstrom will be joining Entain, enabling us to accelerate the development of the Entain Platform.“
Jette Nygaard-Andersen, CEO at Entain
Jette Nygaard-Andersen, Entain’s CEO, was similarly excited about the new collaboration. She explained that thanks to the acquisition of Angstrom Sports, the company will power the development of its platform.
Additionally, Nygaard-Andersen highlighted the importance of leveraging price and risk management capabilities as well as next-generation forecasting. Finally, Entain’s boss predicted that the collaboration will deliver unique experiences for the company’s customers.
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