Entain Monday announce the acquisition of Angstrom Sports for for £81 (US$105) million, plus contingent payments payable over three years equaling a maximum of £122 million.
Angstrom Sports, based in London, U.K., is a provider of next generation sports modelling, forecasting, and data analytics. The acquisition gives Entain a full in-house suite of end-to-end analytics, risk, and pricing capabilities for U.S. Sports betting products.
“We are delighted that Angstrom will be joining Entain, enabling us to accelerate the development of the Entain platform,” said Entain CEO Jette Nygaard-Andersen in a statement. “Their next generation forecasting, pricing and risk management capabilities will unlock significant opportunities across BetMGM’s U.S. 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.”
BetMGM is a partnership between Entain and MGM Resorts International.
Angstrom’s predictive modelling creates pricing and forecasting capabilities across U.S. sports betting markets and products. The company’s products will provide Entain with more betting opportunities, optimized parlay and in-play products, price expertise, and risk management.
“We’re excited to join forces with Entain to continue delivering unique and exciting betting opportunities across US sports,” said Angstrom Sports CEO Sion Colley. “Entain shares Angstrom’s passion for innovation and our partnership will enable us to realize our ambitions in bringing best in class products and experiences to sports betting customers through Entain’s market leading global brands.”
The acquisition is expected to be completed during the third quarter of 2023.
