It can’t be said that Vitruvian Partners selling OpenBet was a surprise. Rumours of the sale have been rumbling on since last year, and since February we have been waiting for an update. The buyer, however, may have surprised some.
NYX was certainly in the mix to acquire OpenBet, albeit through a partnership with William Hill. Others such as Paddy Power Betfair, Playtech and two private equity firms were linked with the deal, and considering the presence of so many big hitters, NYX would not resent being described as the underdog in this situation. Yet here it stands as the winning bidder for OpenBet.
It is a fascinating, if complex, deal. The presence of William Hill and SkyBet as new shareholders adds an intriguing element, with the operators acquiring a 19 and 5 percent stake respectively in NYX.