Business
Acquisition of Angstrom Sports
Acquisition of Angstrom Sports.
About this update from Entain Plc
[{"type":"text","content":"\n\n17 July 2023\nEntain plc\n \nAcquisition of Angstrom Sports, a specialist provider of US sports forecasting and data analytics\n \nEntain plc (LSE: ENT), the global sports betting, gaming and interactive entertainment group (\"Entain\" or the \"Group\"), is pleased to announce the acquisition of Angstrom Sports for a total consideration of £81 million plus contingent payments totalling a maximum of £122 million, payable over three years.\nAngstrom Sports is a specialist provider of next generation sports modelling, forecasting and data analytics. Its simulation-based predictive modelling creates highly sophisticated pricing and forecasting capabilities. Angstrom's proprietary offering is differentiated by its accuracy, richness, speed and breadth across US sports betting products and markets.\nThe acquisition secures Entain as the only global operator with a full in-house suite of end-to-end analytics, risk and pricing capabilities for US Sports betting products. The combination of Angstrom's innovative data-driven capabilities alongside Entain's global scale and market leading platform will offer our customers an unrivalled US sports betting experience. Enriched in-house capabilities will provide a significantly greater number of betting opportunities, optimised parlay and in-play products as well as accelerating pricing expertise and risk management, delivering margin enhancement over the long term.\nThe acquisition is expected to complete during Q3 2023.\n \nJette Nygaard-Andersen, CEO of Entain, comments:\n\"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.\"\n \nSion Colley, CEO of Angstrom Sports, comments:\n\"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 ...