Spread betting operator Sporting Index Group, has this morning announced that it has agreed to acquire Touchbet, an industry provider of trading and risk management services.
Issuing a market update, Sporting Index stated that the undisclosed sum acquisition aimed to enhance its B2B division Sporting Solutions, optimising the firm’s Risk Management Services (RMS) capabilities.
Founded in 2006 Sweden and Malta-based Touchbet manages risk on an average betting volume of circa €4 billion per annum. All core systems are proprietary, adding to the Sporting Index Group’s ethos of building and owning all of its own technology.
Simon Trim, CEO of the Sporting Index Group, said: “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.
“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.”
Moving forward Touchbet will be integrated within Sporting Solutions services, boosting the divisions all-round B2B provisions which include outsourced pricing and trading, risk/liability management.
Ralfh Backlin, CEO of Touchbet, commented on the sale: “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.”