When Fanatics, best known for sports trading cards and collectables, closed its deal to buy sports betting software company PointsBet for $225 million (€209 million) a few weeks ago, it elevated the Irish tech company Banach Technology to new heights in the US sports betting industry. Fanatics, which was last valued at over $30 billion, officially closed its acquisition of Australian firm PointsBet in late April in a bid to bolster its nascent online sports betting business. PointsBet had established its EMEA headquarters in Ireland after acquiring Irish betting tech company Banach Technology in 2021 for $43 million. Banach now…

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How Banach’s tech became a “key part” of a $225m sports betting deal

Fanatics acquired the company that owned tech developed by Irish firm Banach to fuel expansion in US sports betting, all while pushing Banach’s founder to its executive leadership.

26th Jun, 2024 - 4 min read

Jonathan Keane

Business Correspondent

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