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PointsBet completes acquisition of Banach Technology

21st April 2021 9:42 am GMT
PointsBet

Sydney-listed sports betting operator PointsBet Holdings has completed the acquisition of Dublin-based in-play sports betting specialist Banach Technology.

The acquisition accelerates PointsBet’s technology roadmap and will allow the company to take advantage of growing in-play betting opportunities in the United States.

“We are delighted to welcome Banach into the PointsBet family and look forward to working together to deliver our full potential for the benefit of PointsBet shareholders, and all of our stakeholders,” said PointsBet Group CEO and managing director Sam Swanell.

Banach Technology founder and CEO Mark Hughes, who will take over as PointsBet Group chief operating officer, added: “The team at Banach is delighted to be joining PointsBet at this exciting time in their journey.

“The compatibility of our two businesses presents an excellent opportunity to achieve great success together, and we cannot wait to start delivering an industry-leading experience to the PointsBet customer.”

Shares in Pointsbet Holdings Ltd (ASX:PBH) closed lower by 2.16 per cent at AUD$12.68 per share in Sydney Wednesday.

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