FSB Technology seals seven-figure platform investment deal
CEO Dave McDowell says US-based SportsMEDIA Technology agreement will enable FSB to compete with the leading sports betting suppliers
FSB Technology is plotting to take on the UK’s biggest sports betting suppliers after securing a seven-figure platform investment deal with SportsMEDIA Technology (SMT).
The deal will see SMT provide significant capital for FSB Technology to use in the development of its CRM, analytics and mobile tools.
The London-based supplier will also obtain access to new potential partners from SMT including media companies and sports right-holders.
“SMT’s investment equips us with the capital to directly compete against the industry’s largest sports betting suppliers, as well as delivering a great opportunity to provide our products to their extensive list of contacts,” McDowell said.
“We are very excited about the potential this has for our ability to grow the business globally and supply an even better service to our existing clients and our future clients,” he added.
North Carolina-headquartered SMT was incorporated in 1988 and provides real-time sports data integration, on-screen graphics, tickers, graphics presentation and video and social media enhancement for televised sports events.
“Our recently opened London office provided us with a unique vantage point from which we could evaluate the strategic merits of several UK-based investment opportunities,” Gerard J. Hall, SMT founder and CEO, said.
“SMT is very excited about the implications this strategic investment in FSB will have on the managed sports betting sector,” he added.