DraftKings has acquired Canadian sports betting technology and proprietary odds provider Sports IQ Analytics.
Based in Vancouver, Sports IQ uses advanced artificial intelligence and machine learning techniques to provide cutting edge software solutions for the online sports betting market.
“I’m excited for this next chapter in the Sports IQ Analytics journey,” said Sports IQ chief executive and co-founder Omer Dor. “In DraftKings Inc. we join a team whose desire for winning and being the best matches our own. Thank you Jason Robins, Paul Liberman and the entire team for welcoming us onboard.
“I feel privileged for the last six years, working alongside the incredible group of people that make the Sports IQ team. They are hard working, intelligent and passionate and I’m so excited that we get to bring our skills and energy to DraftKings.
“Thank you to my co-founders Matthew Belzberg, Jose Alfaro and Andrew Schwartz for sharing this journey with me. For celebrating the good moments together, and sticking by each other through the more challenging times.”
Three years ago, Sports IQ secured $7m in new funding to expand in North America, with the funding round led by Toronto-based Harlo Equity Partners. Participants in the round included The Kraft Group, Velo Partners, Fenway Sport Group president and partner Michael Gordon, and former Boston Red Sox and Chicago Cubs executive Theo Epstein.
“I’m incredibly grateful to the phenomenal investors, advisors, partners, and clients who supported our vision and provided guidance and experience in Sports IQ’s journey at every turn,” concluded Dor. “I’d like to believe that every entrepreneur could only wish to be as lucky as I have been.
“Special thanks to Eric Levy from Osler, Hoskin & Harcourt LLP, Robin Chhabra of Tekkorp and their respective teams for helping us with this transaction.”
Shares in DraftKings Inc (NASDAQ:DKNG) closed 1.73 per cent lower at $43.27 per share in New York Friday.