Go to deals
Consumer & Retail | TMT

Paddy Power plc and Sportsbet Pty Limited have acquired International All Sports Limited

Paddy Power plc and Sportsbet Pty Limited have acquired International All Sports Limited (IAS) for US$35 million.

Formed in 1988, Paddy Power is the largest provider of online betting and gaming services in Ireland and a leading provider of such services in the UK. Operations are divided between online, retail and telephone services to customers in Ireland and the UK. In 2008, amounts staked exceeded US$2 billion. Online services generate over 70% of operating profit. Paddy Power is publicly quoted and capitalized at US$800 million.

Sportsbet is an Australian licensed sports bookmaker. It accepts wagers on Australian and international horse, harness and greyhound racing as well as all manner of local and international sporting, political and entertainment events. Wagering turnover exceeds US$780 million.

IAS, through its subsidiaries, engages in betting on racing. It also offers bookmaking and information technology services to the wagering industry, primarily in Australia. The company provides wagering investment services, horse racing totalizator services and analysis rating services. It also operates information portals that provide racing and sports news, hot tips, form guides, and racing results and highlights. IAS is a subsidiary of Sportsbet Pty Ltd. The company was incorporated in 1994 and is based in Melbourne, Australia.

Oaklins' teams in Australia and Ireland advised the buyer in this transaction. During the course of negotiations between Paddy Power plc and Sportsbet Pty Limited in which Paddy Power acquired an initial 51% shareholding with the balance to be acquired through an earnout, Sportsbet identified the publicly listed International All Sports Limited (IAS) as a potential target and amassed a 20% shareholding on market. Subsequent to Paddy Power completing its transaction with Sportsbet, Sportsbet agreed to enter into a scheme of arrangement with IAS pursuant to which Sportsbet would acquire IAS for cash (implying an enterprise value of US$35 million) to be funded by Paddy Power and by Sportsbet's minority shareholders.

Service
M&A buy-side
Parties

Talk to the deal team

 Paul  Young

Paul Young

Senior Advisor
Sydney, Australia
Oaklins Henslow
 Ted  Webb

Ted Webb

Managing Director
Dublin, Ireland
Oaklins IBI

Related deals

Aareon AG has sold phi-Consulting GmbH to the management team
Private Equity | TMT

Aareon AG has sold phi-Consulting GmbH to the management team

Aareon AG has sold phi-Consulting GmbH to the company’s management team.

Learn more
Nova Consulting Group becomes majority shareholder in Egde Consulting
Private Equity | TMT

Nova Consulting Group becomes majority shareholder in Egde Consulting

Nova Consulting Group AS (NOVA) has become the new majority owner of Egde Consulting AS (Egde). With the acquisition, NOVA will significantly improve its foothold in the Norwegian market. The founders and existing employee-shareholders of Egde will retain a significant part of their shareholding in the company and the new ownership model will give all employees in Egde the opportunity to take part in the long-term value creation as co-owners of the company.

Learn more
HE Space has been acquired by CS Group
Aerospace, Defense & Security | Business Support Services | TMT

HE Space has been acquired by CS Group

With this acquisition, CS Group increases its European presence in space to nearly 800 employees. The group would thus strengthen its installed base in the Netherlands, Germany and France and expand its development prospects in Spain and the UK. This acquisition will ensure a stronger presence with institutional organizations such as ESA’s ESOC and ESTEC agencies, EUMETSAT and industrial companies such as Airbus, Thales and OHB.

Learn more