The plans for global expansion of TopBetta will take another step forward with the deal of DynamicOdds. The betting company based in Australia is on the verge of acquiring he data feed and bookmaker comparison website in their bid to become a worldwide player.
TopBetta Holdings Ltd. (TBH) informed the Australian Securities Exchange about entering into “a binding, conditional heads of agreement” to buy 100% shares of Dynamic IT Group Pty. Ltd, which is also based in Australia owned by C.D.K. Limited. DynamicOdds offers odds comparison, as well as a subscription service to clients who want to use the platform for placing bets with bookmakers.
TBH must issue to DynamicOdds 10 million unquoted options on the bookmaker’s shares, at the price of 0.15 USD per option within two years from the date of issue. When the acquirement is completed, TBH must pay 1.13 million USD to DynamicOdds shareholders and 755.000 USD to C.D.K. for asset purchase. The latter will also receive 5.67 million USD or issue shares with the same value.
According to TopBetta’s CEO Todd Buckingham, the deal will provide a great opportunity to expand TBH partnerships with sporting and racing bodies globally. The company’s total revenue hit 5.5 million USD in 4Q 2017, a 401 per cent increase from 1.1 million USD in the same period a year earlier.Follow us on