PointsBet hopes to fuel U.S. expansion with $ 43 million acquisition of betting platform company

Banach technology is known as Robinhood of Sports Gambling and PointsBet now owns it.

The sports betting company acquired Banach on Monday in a $ 43 million transaction. Banach is a b2b software company that builds sports betting platforms and algorithms, including in-game betting.

PointsBet, which is based in Australia with a US headquarters in Denver, will pay 55% cash for the company, issue 1.75 million shares and pay $ 4 million to help convert the two companies.

In an interview with UKTN on Monday, PointsBet CEO Johnny Aitken said, “There are many benefits that will be unlocked by this transaction,” including improved in-game PointsBets offerings.

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