Sports betting company Entain announced its plan to acquire Angstrom Sports. The latter provides sports forecasting, modeling, and data analytics. Also, the deal is worth $160 million.
According to Price Per Head Online experts, Entain initially considered acquiring Angstrom Sports for $106 million. However, the price will increase to $160 million due to additional contingent payment.
The contingent payment is payable three years after the finalization of the deal. According to pay per head reviews and news sites, the acquisition will close during the third quarter of 2023.
Popularly known as an expert in cutting-edge sports modeling, data analysis, and forecasting, Angstrom Sports has made a name for itself in the industry. Using simulation-based predictive modeling has brought the organization improved forecasts and more nuanced pricing. Regarding current betting markets and products in the United States, Angstrom Sports’ offering stands out because of its depth, quickness, and accuracy.
Entain to Acquire Angstrom Sports
The purchase occurs during a very hectic time for Entain. In a deal worth around $945 million, the business has recently revealed its ambitions to buy STS Group, the top Polish sports betting provider. With the purchase of Angstrom Sports, Entain hopes to bolster its internal resources. Because of the acquisition, the business can better set prices and conduct analyses for its sports betting offerings in the United States. It is anticipated that Entain will gain a competitive edge in markets across the United States by using Angstrom Sports’ cutting-edge data-driven capabilities.
Angstrom Sports CEO Sion Colley is ecstatic about collaborating with Entain to increase the company’s visibility in the United States. Both organizations’ CEOs shared their vision for the future and expressed confidence that working together will result in exciting new opportunities for Entain’s users.
Entain’s CEO, Jette Nygaard-Andersen, shared the company’s enthusiasm for the partnership. She elaborated on how acquiring Angstrom Sports will allow the firm to expand its platform rapidly. Thus, it is a shortcut on how to be a bookie for the company as it ventures in other markets.
Nygaard-Andersen also stressed the significance of advanced forecasting methods and price and risk management strategies. Finally, Entain’s CEO expressed confidence that the partnership will result in one-of-a-kind offerings for the company’s clientele.