Sportech purchase Data Tote

tech have acquired fellow online operators and providers Data Tote Limited.

Upon completion of the deal, which is worth an initial consideration of £3.1m, Sportech will exclusively provide betting services to 41 of the 43 greyhound tracks in the UK and Ireland.

A further deferred payment of up to £1m will be payable if Data Tote meet certain cumulative growth performance targets between the date of completion and 30 June 2016.

The acquisition will see Data Tote continue to build on their core business while further developing Sportech's European tote racing business.

Data Tote CEO and owner Edwin Osborne will continue in his role while also assuming responsibility within Sportech's European tote racing business, reporting to Sportech Racing managing director Andrew Gaughan.

Sportech CEO Ian Penrose said: "I am delighted that Sportech has acquired a highly innovative organisation with a talented management team and a wide European customer base.

“This complementary business will strengthen and augment our global operations and widen our distribution in Europe."