July 17 (Reuters) - Ladbrokes-owner Entain (ENT.L) on Monday agreed to acquire U.S.-based Angstrom Sports for 122 million pounds ($159.5 million) as it looks to widen its footprint in the country.
The acquisition of the sports modelling, forecasting and data analytics company will comprise a total consideration of 81 million pounds and contingent payments over three years, the company said in a statement.
Over the years, Entain has added several betting groups to its portfolio to expand into Canada, the Netherlands and other parts of Europe.
The acquisition of Angstrom is expected to be completed in the third quarter of 2023.
($1 = 0.7651 pounds)Reporting by Radhika Anilkumar in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.
Persons:
Entain, Jette Nygaard, Andersen, BetMGM, Radhika Anilkumar, Dhanya Ann Thoppil
Organizations:
U.S, Sports, MGM Resorts, Angstrom, Thomson
Locations:
parlay, Canada, Netherlands, Europe, Bengaluru