Touchbet acquired by Sporting Index Group

Sports betting technology and trading firm, Sporting Index Group (SIG) has acquired algorithmic sports racing and risk management business, TouchBet, for an undisclosed consideration.

Based in Sweden and Malta, Touchbet will complement SIG’s Sporting Solutions B2B arm, enhancing existing Risk Management Services (RMS) with proprietary technology.

Prior to the acquisition, Sporting Index Group owner Magnus Hedman was a founding shareholder in Touchbet.

Simon Trim, chief executive officer 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.”

“We believe that combining the capability of Touchbet further improves Sporting Solutions’ market-leading proposition,” added Ralfh Backlin, chief executive officer of Touchbet. “Together we provide an end-to-end sports betting solution for the B2B market that is unsurpassed in terms of breadth, depth and expertise.”

Related and similar