OpenBet moves to snap up Multi Builder Limited in M&A move
Sports betting supplier bolsters tech, trading and talent ahead of sale to Endeavor
OpenBet is set to acquire proprietary technology and sports trading firm Multi Builder Limited for an undisclosed fee.
The sports betting supplier will acquire both the assets and talent of Multi Builder, along with the talent from Sportsbook Training Services Limited.
Explaining the rationale behind the acquisition, OpenBet has said the move would allow it to own the proprietary IP and technology for several key pricing models across a number of significant sports markets.
Multi Builder’s proprietary tech and trading model will be fully incorporated into the OpenBet product portfolio.
Multi Builder was co-created by former Sportingbet trader Oliver Preston and ex-Ladbrokes odds compiler Jonathan Smith.
Under the remit of the deal, leading sportsbook trading trainer Smith will provide training services exclusively on behalf of OpenBet.
The acquisition comes ahead of OpenBet’s sale to Endeavor in an $800m deal.
OpenBet chief product officer Nikos Konstakis, said: “This deal marks another significant milestone into the development of our pricing and trading services strategy, which continues to grow in importance as OpenBet drives operator value through deeper market offerings alongside higher flexibility.”
Multi Builder MD Oliver Preston added: “We are extremely proud to be part of OpenBet’s latest expansion strategy, further developing their market leading portfolio. OpenBet is the stand-out sports technology, services and content business.”