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SPORTECH GIVEN A GREEN LIGHT ON DATA TOTE ACQUISITION
09th December, 2013 at 08:48:19
OFT clearance for a deal that broadens Sportech's share of the European betting market.
Sportech plc announced Monday that the Office of Fair Trading has cleared its acquisition of Data Tote
Limited, a provider of on-track and online greyhound and horse race betting services in Europe.
The online gambling and sport-entertainment company inked the Data Tote acquisition deal last September (see previous report) for an initial consideration of £ 3.1 million. However, early in November the Office of Fair Trading requested input on the agreement.
In a statement advising that the agreement had been approved, Sportech noted that the deal further reinforces Sportech's position as one of the largest operators and providers of betting technologies and services in the world.
"Data Tote brings an incremental customer base with strong year-on-year revenue growth that will broaden Sportech's share of the European betting market," a spokesman said.
Related News Tags: Europe, Tote
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