BetMakers Technology Group has completed the acquisition of assets from Racelab Global, an international supplier of racing wagering products and technologies.
Under the acquisition agreement, BetMakers will pay a total consideration of AU$1.5m (£779,316/€910,620/US$977,501) to take ownership of the Racelab assets. However, there is a clawback clause of up to $500,000, dependent on key customer obligations within 30 days of closing.
BetMakers said that the deal represents a “highly strategic acquisition” for the business. It adds race form, preview and statistics technology to its ecosystem, as well as proprietary fixed-odds pricing technology and associated algorithms.
Racelab assets include ProForm informatics and enhanced content and Odds Engine pricing and trading technology.
Other benefits include potential to further expand services in the harness and greyhound form and preview racing sectors. In addition, BetMakers said the deal provides an ongoing partnership with global r..