Why all eyes will be on the PointsBet (ASX:PBH) share price today

The PointsBet Holdings Ltd (ASX: PBH) share price will be one to watch on Tuesday.

This follows the release of an acquisition announcement by the sports betting company this morning.

What did PointsBet announce?

This morning PointsBet announced that its wholly owned Irish subsidiary, Lockspell Limited, has entered into a binding share purchase agreement to acquire Banach Technology. The transaction remains subject to customary completion conditions and is expected to close in April.

According to the release, PointsBet will acquire Banach Technology for US$43 million on a cash and debt free basis. This will be paid 55% in cash and the…