M&A News

US wagering technology provider Sportech Racing and Digital, a division of Britain's Sportech plc, has acquired 50/50 raffles provider Bump Worldwide for an undisclosed sum.

Toronto-based Bump conducts 50/50 raffles at live sporting events in North America, helping to raise money for sports teams' charitable foundations. It has agreements in place with 12 professional sports teams in the NHL, NBA, NFL, MLS and NASCAR, including the likes of the Detroit Lions, Chicago Bulls and Vancouver Canucks.

Sportech said that the technology and sales processes employed by Bump are aligned with those which it provides for its racing, off-track betting, and casino customers, and that its expertise in technology and gaming will enable Bump to develop new platforms and applications to strengthen fans experiences both within and outside the stadium.  

Commenting on the acquisition, Sportech Racing and Digital president Andrew Gaughan said: "The acquisition of Bump further diversifies Sportech's presence in the North American sports and gaming markets, adding professional sports team foundations to Sportech's customer base and 50/50 raffles to our slate of products, along with a talented and innovative management team."

Bump's management team, led by founder and president Dan Tanenbaum, will continue in their roles under the direction of Gaughan.

Tanenbaum described Sportech as the perfect partner for Bump. "With its access to new markets, sporting events and complementary technologies, Sportech is the perfect partner for achieving Bump's goals for growth and innovation, and the entire Bump team is excited to be a part of the Sportech organization," he said.

Shares in Sportech plc (Co. Data) (LSE:SPO) closed in London Monday up 0.60 per cent at 84.50 pence per share.