Racing and Sports (RAS) and Waterhouse VC have entered into a strategic partnership agreement, with accelerated growth being a key concept of the deal.
Through this deal, RAS will receive consulting services related to sales referrals, acquisitions, and other business transactions that leverage its core products and services, such as its trading technology.
Consequently, Waterhouse VC is expected to provide more growth opportunities for the provider and enable it to access its global network.
This agreement has an initial term of 36 months, starting from the date of the offering completion or potential acquisition completion (whichever is later); and Waterhouse VC has been invited as a strategic investor to be included in the RAS registry through the offering of approximately 2.5% of all currently issued shares.
RAS CEO, Stephen Crispe, stated: "Since our IPO, the racing and sports industries have experienced unprecedented growth over the past three years. This business has developed significantly and is very capable of supporting both mature and emerging global racing markets.
"We continue to see strong future growth for the business, with record opportunities in all regions, and we believe this will have a positive impact on the overall business and all stakeholders.
"We further believe that the relationship between RAS and Waterhouse VC will be a powerful partnership and seek to unlock value in numerous global opportunities. We believe the transaction structure represents a fair way for both parties to realize this value."
Tom Waterhouse, Managing Director at Waterhouse VC, added: "Waterhouse VC considers Racing and Sports to be a leader in the racing and sports data industry, whose management team has been active in this field for decades.
"We see great opportunities in utilizing the Waterhouse VC network, which has been built over 20 years of industry experience and managing betting industry funds for five years, to provide RAS with business partnerships and potentially significant revenue."
