Entain has completed the acquisition of US sports forecasting and data analytics provider Angstrom Sports.
Following an agreement in July, Entain has paid an initial consideration of £81 million to acquire the business, with additional contingent payments up to a maximum of £122 million to be paid over the next three years.
Entain said that the acquisition will provide customers with an unrivalled US sports betting experience, with Angstrom’s proprietary offering providing the operator, and its BetMGM joint venture, with highly sophisticated in-house forecasting, analytics, risk, and pricing capabilities for US sports betting markets.
“We are delighted that Angstrom has joined Entain, enabling us to accelerate development of the Entain Platform bringing even more product capabilities in-house,” said Entain CEO Jette Nygaard-Andersen. “Angstrom’s proprietary next generation capabilities will unlock significant opportunities, particularly for our US sports betting offering through BetMGM.
“We look forward to working closely with the Angstrom team and are excited to provide our customers with an unrivalled sports betting experience.”
Shares in Entain plc (LSE:ENT) were trading at 932.80 pence per share in London Monday morning.