Gaming Innovation Group makes "milestone" OddsModel acquisition
Firm says sports betting technology company will benefit its internal brands and B2B partners
Gaming Innovation Group (GIG) has finalised an agreement to acquire sports betting technology firm OddsModel, a deal the company described as a “milestone” for its ambitions in the vertical.
Subject to approval from its board of directors, Malta-based GIG will issue 21.9 million of new company shares as a consideration for all shares in the technology company.
OddsModel develops technology platforms and statistical models which produce data to generate real-time pricing for both pre-match and in-play sporting events.
As part of the agreement, OddsModel’s systems are expected to be integrated into GIG’s iGamingCloud’s sportsbook engine in time for the 2016 UEFA European Championship in June.
“Through the acquisition and integration of the very exciting software, and vastly skilful people of OddsModel, GIG will significantly enhance its capability to serve attractive and innovative solutions to B2B and B2C customers,” Robin Reed, chief executive of GIG, said.
“We aim at concluding integrations in time to serve our clients and customers a very competitive sportsbook for the Euro Cup,” Reed added.
GIG’s in-house iGamingCloud platform is live with a number of the group’s own B2C assets including Guts.com and Rizk.com, while the company has also signed B2B deals with additional brands in recent months.