Another day, another deal: Entain announces acquisition of Angstrom Sports
The deal is worth up to £203m ($265.9m) and is set to be completed in Q3 2023.
Entain has announced the acquisition of Angstrom Sports.
Entain has bought the company for a total consideration of £81m, plus contingent payments totalling a maximum of £122m, payable over three years. The purchase is expected to be completed during Q3 2023.
Angstrom Sports is a provider of US sports forecasting and data analytics. Its simulation-based predictive modelling creates pricing and forecasting capabilities.
Entain hopes the deal will provide significantly more betting opportunities, optimised parlay betting and more in-play products. Angstrom will look to accelerate pricing expertise and risk management, and deliver margin enhancement across the US market.
Entain has already made other purchases this year, having bought Polish sportsbook operator STS for £750m. Additionally, Entain bought sports media company 365scores for £120m.
Jette Nygaard-Andersen, Entain CEO, said: “We are delighted that Angstrom will be joining Entain, enabling us to accelerate the development of the Entain Platform.
“Their next-generation forecasting, pricing and risk management capabilities will unlock significant opportunities across BetMGM’s US sports betting offering, particularly in the fast-growing markets of parlay and in-play wagering.
“This acquisition will provide our customers with an unrivalled sports betting experience underpinned by enhanced in-house data analytics, a global platform and market leading brand.”
Sion Colley, Angstrom Sports CEO, said: “We’re excited to join forces with Entain to continue delivering unique and exciting betting opportunities across US sports.
“Entain shares Angstrom’s passion for innovation and our partnership will enable us to realise our ambitions in bringing best-in-class products and experiences to sports betting customers through Entain’s market-leading global brands.”
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