Tabcorp has agreed to acquire wagering technology provider BetMakers for approximately A$283m. The deal, announced over the weekend, is designed to accelerate Tabcorp's transformation and establish what the company calls a 'global B2B growth engine'.
Tabcorp will pay A$0.24 per BetMakers share, valuing the business at an enterprise value of approximately A$267m. That represents premiums of 41%, 42% and 37% to BetMakers' volume-weighted average share prices over one, three and six months respectively.
Confirmation of the acquisition follows BetMakers' rejection in February of media reports that it was close to a takeover by Tabcorp.
