Sporting Index strengthens B2B arm with Touchbet acquisition
Spread betting firm says deal will enhance its risk management services
Sporting Index Group has acquired the sports trading and risk management business, Touchbet, for an undisclosed sum, the firm announced this morning.
Sporting Index said Touchbet would be integrated into its B2B arm, Sporting Solutions and would enhance the risk management service it provides to sportsbooks.
Touchbet is owned by Magnus Hedman, who bought Sporting Index back in 2015 for an undisclosed sum, suggesting the deal could be a way to merge Hedman’s assets rather than a traditional takeover.
Hedman also owns a controlling stake in low-margin operator Pinnacle.
“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,” said Simon Trim, CEO of the Sporting Index Group.
“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, which is based in Sweden and Malta, said it manages risk on an around €4bn a year via its proprietary trading systems.
Ralfh Backlin, CEO of Touchbet, added: “We believe that combining the capability of Touchbet further improves Sporting Solutions’ market-leading proposition.
“Together we provide an end-to-end sports betting solution for the B2B market that is unsurpassed in terms of breadth, depth and expertise.”
Prior to the transaction, Sporting Index Group owner Magnus Hedman was a founding shareholder in Touchbet.