PointsBet has entered into an agreement to acquire Banach, an Ireland-based company, for a total amount of US$43.0m. The transaction will be conducted on a cash and debt-free basis. This strategic move aligns with PointsBet’s overall strategy and presents potential opportunities for growth and expansion.
Strategy:
- 55% of the payment will be made in cash.
- The remaining 45% will be paid in shares.
PointsBet has committed to providing Banach with $4.0m in funding to support the conversion process of existing equity options. This strategic move will facilitate the smooth transition and enhance Banach’s strategy implementation.
The retained funding amount is a crucial component of the strategy after the acquisition is finalized.
