365 Corporation, the UK-based internet content and telephone service provider, has acquired Datanet Holdings in a cash-and-paper deal worth #31m, reports the Financial Times.
The 365 group, which operates football, rugby and cricket sites, said it would pay #2.2m in cash and issue 12.4 million shares at 233p each for Datanet, which operates a string of sports sites including Planet Rugby and Cricketline.
365 said the acquisition would make it easier to introduce gambling and e-commerce facilities to its network of sport sites. ? Datanet is slightly more statistically orientated, which is a good fit for us,? said Dan Thompson, chief executive.
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