(PRESS RELEASE) -- U.S.-based real-time sports data integration, graphics presentation, and video enhancement solutions provider SMT (SportsMEDIA Technology) has made a strategic investment in sports betting platform provider FSB Technology (UK) Ltd.
The seven-figure sum will allow FSB to further enhance its cutting-edge platform, which boasts best-in-class tools for CRM, analytics, and mobile development.
FSB’s modern technology is aimed at existing casino and sports-betting operators who want to launch a new sportsbook or move into a new territory, as well as those requiring an upgrade from existing legacy systems currently preventing them from keeping pace with the competition.
In addition, the new relationship with SMT will allow FSB to provide its products and services to a growing number of media companies and sports rights-holders for whom sportsbook provision is of increasing interest.
FSB’s CEO and co-founder Dave McDowell said: “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.
“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.”
SMT founder and CEO Gerard J. Hall said: “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. SMT is very excited about the implications this strategic investment in FSB will have on the managed sports betting sector. One and one is going to equal three."
FSB’s managed solution includes a proprietary live sports-betting platform, real-time algorithmic pricing models, and CRM tools for player segmentation and bonusing, as well as proprietary CMS and user interface technologies. Among its clients are
Dafabet, Genting Alderney, My Club Betting, and Bean Bag Sports.
The company was co-founded in 2008 by GameAccount Network pioneers Dave McDowell and Sam Lawrence and was the first winner of the Start-Up Launchpad competition, now in its eighth year at this week’s Excellence in Gaming (EiG) Expo in Berlin.
Since launching, FSB has undergone three funding rounds with the last, led by
SportingBet founder and FSB chairman Mark Blandford, raising £2.6 million in January 2014.
SMT was incorporated in 1990 with the development of the first real-time scoring and wireless data delivery systems. The company’s innovations have spanned the world of sports and technology, delivering data, graphics, support tools, and displays to enhance the telecasts and events for many of the world’s biggest sports productions.
FSB was advised on the transaction by Akur Capital.