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Sportech agrees to sell Bump Worldwide to Canadian Bank Note
StockMarketWire.com
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Betting technology business Sportech said it has entered into a conditional agreement to sell its Bump Worldwide business to Canadian Bank Note (CBN) for £5.7 million.
CBN operates across four key market areas including Lottery and Charitable Gaming, where its clients include the Ottawa Senators, Toronto Maple Leafs, Toronto Raptors and Toronto Blue Jays.
The sale is anticipated to complete during the second quarter of 2021. Net proceeds will create potential further investment capital for the group's Connecticut sports betting ambitions and retail gaming business.
Bump Worldwide provides technologies and services enabling clients to offer digital raffle fundraising programmes in stadiums and online.
Richard McGuire, chief executive of Sportech, said: 'We are immensely proud of the progress the Bump management team have achieved in recent years and believe the acquisition by CBN will provide additional opportunities and a broader product suite ultimately leading to further innovation, benefitting all clients, within the charitable gaming space.'
At 2:02pm: (LON:SPO) Sportech PLC share price was 0p at 26.1p
Story provided by StockMarketWire.com
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