The deal, agreed for an undisclosed amount, will see PA Betting Services gain a foothold in the Asian market. Following completion, iRace Media will continue to operate as a stand-alone business, retaining CEO and founder Steve Levar.
iRace Media currently works in the Asian market through partnerships with racing organisations. These include Hong Kong Jockey Race Club, Singapore pools, 4Racing and Tabcorp.
Its range of data and content services include form guides and interactive tipping content. It also produces an Asian-facing racing form guide known as iRace.
PA Betting Services said the acquisition would complement its bank of racing knowledge. It argued the new combined business would be able to create a global racing database and expanded distribution network.
PA Betting Services eyes new customers
“The combined knowledge and reach of iRace and our business will be significant for the industry,” said director of PA Betting Services Eugene Delaney.
“Not only does it allow us to reach new customers, but it also puts us in a position to offer a whole new range of services for our rightsholder and bookmaker partners.”
Levar added iRace Media was “thrilled” at the news.
“Through this acquisition, both companies will benefit from shared resources, expanded R&D capabilities and a broader talent pool, enabling the development of racing solutions which will transform the racing landscape and create new growth opportunities,” he said.