OpenBet expands product offering with Multi Builder acquisition3rd August 2022 12:08 pm GMT
Sports betting technology provider OpenBet has enhanced its product portfolio with the acquisition of Multi Builder Limited.
The deal will see Multi Builder’s proprietary sports technology and quantitative trading models, which trade under the Sportsbook Models brand, integrated with the OpenBet product portfolio.
Co-created by Oliver Preston and Jonathan Smith, Multi Builder’s team is primarily focused on creating and powering algorithmic sports betting models that deliver quality content depth and improved margins across multiple sports.
Through the acquisition, OpenBet will own the proprietary IP and technology for several key pricing models across a number of significant sports markets, both pre-match and in-play, which have already proven successful with leading sportsbook operators.
“This deal marks another significant milestone into the development of our Pricing & Trading Services strategy, which continues to grow in importance as OpenBet drives operator value through deeper market offerings alongside higher flexibility,” said OpenBet chief product officer Nikos Konstakis. “Through the acquisitions of DonBest and SportCast in recent years, coupled with our internal roadmap, we saw our content and pricing revenue grow by over 100 per cent in 2021.
“The addition of Multi Builder Limited allows us to accelerate this growth trajectory, drive innovation and offer next level betting entertainment for our operators’ players.”
Multi Builder Limited managing director Oliver Preston commented: “We are extremely proud to be part of OpenBet’s latest expansion strategy, further developing their market leading portfolio. OpenBet is the stand-out sports technology, services and content business.
“Their relentless focus on customer and player experience is second to none. Our offering will complement the company’s current products very effectively, enabling it to continue providing quality, scale and depth of systems across global markets. We’ve found a trusted partner in OpenBet and we can’t wait to get started.”
OpenBet is currently in the process of being sold by Light & Wonder to Endeavor Group’s IMG Arena.