Business
Why the BetMakers (ASX:BET) share price is surging higher
The BetMakers Technology Group Ltd (ASX: BET) share price is on the move on Tuesday following an acquisition update.
At the time of writing, the betting technology company’s shares are up 5.5% to 75.5 cents.
What did Betmakers announce?
This morning the company announced that UK-based Sportech has received shareholder approval for the divestment of its Racing and Digital assets to BetMakers for a total consideration of 30.9 million pounds.
This was the only condition precedent to completion of the acquisition. In light of this, BetMakers will now make a non-refundable initial payment of 6.2 million pounds, with the balance of 24.7 million pounds payable upon completion of the acquisition.
This will occur following satisfaction of…
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