US-based real-time sports data integration, graphics presentation, and video enhancement solutions provider SportsMEDIA Technology (SMT) is to make a strategic, seven-figure investment in sportsbook platform provider FSB Technology.
Although the financial details of the deal were not disclosed, FSB said it intends to use the investment to further enhance its platform.
FSB also said that the new partnership will enable it to provide its products and services to a growing number of media companies and sports rights-holders that are interested in providing a sportsbook.
“SMT’s investment equips us with the capital to directly compete against the industry’s largest sports betting suppliers, as well as delivering a great opportunity to provide our products to their extensive list of contacts,” FSB co-founder and chief executive, Dave McDowell, said.
“We are very excited about the potential this has for our ability to grow the business globally and supply an even better service to our existing clients and our future clients.”
Gerard Hall, founder and chief executive of SMT, added: “SMT’s investment in FSB satisfies two of our strategic growth initiatives in a single stroke.
“First, this investment represents the expansion of the SMT brand globally, and second, this investment represents the expansion of our brand into a new and exciting market sector.
“Our recently opened London office provided us with a unique vantage point from which we could evaluate the strategic merits of several UK-based investment opportunities.”
source : www.igamingbusiness.com
