Under the agreement, BetMakers will pay an initial $3.0m, with a potential further $17.0m due in earn-out payments over the next three years dependent on operational, revenue and profitability targets.
Punting Form uses proprietary IP and artificial intelligence to create sectional times and benchmarks for horse racing, which are used for time-based ratings systems. Professional wagering syndicates, betting operators, content creators and form analysts use the service.
BetMakers said the purchase will further strengthen its position as a provider of B2B data and technology services for horse racing and form part of its Global Betting Services division.
The group also said that Punting Form’s services and data will be deployed across all its operating divisions, with an immediate focus on Managed Trading Services to allow for pricing improvements across its ratings engine.
In addition, BetMakers said Punting Form will expand its current service offering to include sectional time ratings for North American and other global jurisdictions including New Zealand, the UK and Ireland and additional racing formats such as greyhounds and harness racing.
“Sectional times are at the forefront of any ratings system and are required by any serious ratings engine,” BetMakers chief executive Todd Buckingham said. “The synergies across our business are exceptional with both internal use and our external client base benefiting greatly from this acquisition.
“The team at Punting Form are very experienced in delivering B2B wagering solutions and we are excited to have them on board at BetMakers.”