The PA, a multimedia news agency, announced the acquisition of RAS Technology Holdings Limited (RAS), the owner of Racing and Sports. According to the announcement, the transaction will support the global racing and betting industry.
The PA and RAS Complement Each Other
On October 19, The PA announced that it has entered into an agreement to acquire RAS for an undisclosed sum. Per the binding scheme implementation deed, The PA will cement its ownership of RAS by acquiring all of the latter company’s issued shares.
This move will bring RAS into The PA’s fold, pairing the two companies’ businesses and allowing them to “draw on their respective expertise in global racing and sports data, technology and wagering services, and their shared track record of delivering timely, accurate and trusted data.”
The PA added that the acquisition will allow it to tap into Australia’s mature betting market. After its closure, the two companies will build on their strengths, leveraging the Wagering 360 platform to deliver a complete solution for media and betting partners. Customers will thus get access to a broader suite of products, wider international coverage, and a faster services pipeline.
The PA emphasized that its involvement in the horse racing sector spans some four decades, highlighting its passion for the sport. Its Podium sports betting division currently supplies cutting-edge racing and sports data to a slew of bookmakers and broadcasters.
RAS, on the other hand, was founded in 1999 and went public in 2021. In its almost three decades of business, the company has created strong ties with racing bodies and sportsbooks across Australia and Asia. To top it all off, it boasts strong sports tech, analytics, and digital media.
The two companies expect to wrap up their merger in February 2027. The deal is subject to the satisfaction of regulatory and shareholder approvals. The RAS board has encouraged its shareholders to vote in favor of the scheme.
Leaders Are Pleased with the Agreement
Company leaders hailed the deal, expressing excitement about adding RAS to The PA family and creating a stronger business. The PA’s chief executive officer, Emily Shelley, noted that the companies share similar values when it comes to trust and integrity and have complementary strengths and global reach.
Combined with The PA’s trusted heritage and Podium’s technology, this will enable us to develop new products faster and support the long-term growth of racing and the wider sports industry.
Emily Shelley, CEO, The PA
Stephen Crispe, CEO of Racing and Sports, was similarly pleased, calling the deal an “important step” for his team, its clients, and the company’s legacy. He also commented on the two companies’ shared values and said that the emerging business will be able to offer even better and more expansive products.
Together, we will offer our customers a broader range of existing and new products, more expansive data options, innovative technology and reliable services, all while retaining the expertise, relationships and industry knowledge that both businesses have been built upon.
Stephen Crispe, CEO, RAS
Josh Sparke, Podium’s managing director, was the final executive to comment on the deal. He underscored the two businesses’ natural synergies and said that the way their data, tech and product strengths complement each other is certain to create a “stronger global proposition for racing and sport.”
Sparke concluded: “We share a commitment to delivering accurate, timely and trusted services, and together we will have greater expertise, capability and reach to support our customers, accelerate product innovation and open up new opportunities across international markets.”