BetMakers acquires Protocol Zone IP and software for A$1.5m

BetMakers MTS, a subsidiary of BetMakers Technology Group, has announced the acquisition of intellectual property (IP) and software from Protocol Zone Limited for A$1.5m (£756,232).

The IP acquired from the wagering software developer includes digital tote technology, API data feeds, proprietary trading and ratings models.

BetMakers said all of those facets would be used to bolster BetMakers’ new GTX software, expected to be released later this year. 

The GTX software will give BetMakers’ advanced deposit wagering (ADW) and tote wagering customers access to a new tote wagering platform, designed to ensure an improved user experience. 

GTX will also be integrated with BetMakers’ fixed odds managed trading service.

As part of the transaction, BetMakers will pay Protocol Zone A$1.5m in two tranches, the first of which will come in the form of a A$200,000 upfront payment.

Of that A$200,000, A$100,000 will be paid in cash once certain BetMakers products have gone live, but no later than 7 April. 2025.

The remaining A$100,000 will be paid via the issuance of fully paid ordinary shares to Protocol Zone.

The remaining A$1.3m will be paid out through a percentage of GTX-generated net revenue, as well as other related products to which the Protocol Zone IP will be applied, issued via monthly instalments.

BetMakers reserves the right to pay any portion of that figure as a lump sum within the next five years. 

Komal Modi, Protocol Zone managing director, will become BetMakers’ India country manager until 2028, during which time he will be tasked with exploring potential expansion opportunities in Asia. 

Karl Begg, BetMakers’ global tote vice-president, heralded the acquisition as a “gamechanger”.

He said: “We have been working with the team at Protocol Zone for 18 months now and have found them to be extremely efficient with a great domain knowledge across wagering and horseracing. 

“We are excited to be finalising this deal as we get ready to release our new upgraded tote, reporting and digital product suite into the market, called GTX.  

“We believe the new offering will be a gamechanger across our tote business and we are confident it will be well received by the broader market and our existing customer base once launched.” 

Reflecting on the deal, Modi added: “Today marks a significant milestone in Protocol Zone’s journey as we announce the acquisition of our intellectual property and software by BetMakers. 

“This partnership represents more than just a business transaction: it’s a testament to the innovation, dedication and expertise our team has demonstrated in developing cutting-edge wagering technology over many years and we look forward to continuing this journey as part of BetMakers.” 

On Monday, 3 February, BetMakers published its Q2 fiscal year 2024-25 results, which revealed a reported revenue total of A$20m, representing a 20.3% decrease compared to the reporting period in the previous year. 

The acquisition of Protocol Zone’s IP and software comes 10 months after BetMakers snapped up RACELAB in a A$1.5m deal.

The post BetMakers acquires Protocol Zone IP and software for A$1.5m first appeared on EGR Intel.

 Australian supplier has secured several key assets as part of the transaction, with six-figure deal to be split in two separate tranches
The post BetMakers acquires Protocol Zone IP and software for A$1.5m first appeared on EGR Intel.