Spread betting specialist Sporting Index Group has strengthened its B2B arm with the acquisition of algorithmic sports trading and risk management solutions provider Touchbet.
The company said that Touchbet operates in a complementary space to its B2B division Sporting Solutions and will enhance its risk management services, through which it provides outsourced pricing and trading expertise to sports betting operators.
"Touchbet has extensive experience of providing highly automated risk management services, both for lotteries that offer sports betting and for private operators in regulated jurisdictions,” Sporting Index chief executive Simon Trim commented.
"This acquisition strengthens the group's competitive advantage in trading and risk management and builds on the excellent momentum and exciting growth we have achieved over the past 12 months."
Touchbet was founded in 2006 and manages risk on an average betting volume of approximately €4bn per year through it proprietary core systems.
Magnus Hedman, owner of Sporting Index Group, was also a founding shareholder in Touchbet.
"We believe that combining the capability of Touchbet further improves Sporting Solutions’ market-leading proposition," Touchbet CEO Ralfh Bãcklin said. "Together we provide an end-to-end sports betting solution for the B2B market that is unsurpassed in terms of breadth, depth and expertise."