Tabcorp agrees $189M BetMakers takeover to accelerate global wagering technology
Tabcorp is moving to buy wagering technology provider BetMakers Technology Group in a deal with an enterprise value of about… Continue reading Tabcorp agrees $189M BetMakers takeover to accelerate global wagering technology The post Tabcorp agrees $189M BetMakers takeover to accelerate global wagering technology appeared first on ReadWrite .
Australian gambling giant Tabcorp is set to acquire UK-based wagering technology provider BetMakers Technology Group in a deal valued at approximately A$267 million ($189 million). This acquisition represents one of Tabcorp's largest technology investments as it seeks to modernize its operations and broaden its international business-to-business offerings. The deal includes a binding scheme implementation deed by which Tabcorp will acquire all BetMakers shares through a scheme of arrangement.
The offer prices BetMakers at A$0.24 per share, with the company's fully diluted equity value estimated at A$283 million and its enterprise value at roughly A$267 million. This price represents a premium of about 41%, 42%, and 37% over BetMakers' one-month, three-month, and six-month volume-weighted average share prices, respectively.
Tabcorp aims to leverage BetMakers' cloud-based wagering technology platform, technology costs, reduced capital spending, and faster development and rollout of new wagering products through this acquisition.
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