Ladbrokes-owner Entain PLC (LSE:ENT) said it has completed the acquisition of Angstrom Sports for a potential £122mln, payable over the next three years.
A statement from the sports betting company said the UK-based firm is a “specialist provider of next-generation sports modelling, forecasting, and data analytics”, focusing on US products and markets.
Entain said the purchase secures its place as the only global operation with a full in-house suite of end-to-end analytics, risk and pricing capabilities for US sports betting products.
“Their next-generation forecasting, pricing and risk management capabilities will unlock significant opportunities across BetMGM's US sports betting offering, particularly in the fast-growing markets of parlay and in-play wagering,” said Entain CEO Jette Nygaard-Andersen.
The acquisition is expected to be completed during the third quarter.