Australia-based IXUP has acquired DataPOWA in a deal which values the sports technology specialist at £9.8m.
DataPOWA offers specialist data and technology services to the global sports market and was founded by Michael Flynn, formerly of Fast Web Media in Manchester.
“We are excited to be working with the IXUP team with a focus on the aggressive commercialisation of the POWA index and POWA index 2.0, our joint technology offering, which is already gaining market traction, adoption and interest with key international customers and has created a world first in the sports data sector,” said CEO, Flynn.
“Incorporating our POWA index platform with IXUP’s industry leading consumer database encryption technology will enable us to deliver rich insights across datasets not previously capable of being utilised, safely and securely.
“As data becomes increasingly important in the business of sport, rights holders and brands will now be able to track and optimise their sponsorships in a new, relevant, and very effective way. “
Flynn will continue in his current role, as will non-Executive Chairman, Ian Penrose.
“The DataPOWA acquisition was a logical progression from the recently activated collaboration agreement between IXUP and DataPOWA, particularly as it quickly became clear that together we could create a market leading sports sponsorship valuation platform with deep analytics capabilities that the market would adopt,” added IXUP’s Managing Director & CEO, Marcus Gracey.
“The acquisition provides IXUP with valuable aligned technology, domain expertise with key personnel, an accelerated pathway to market for IXUP technology and accelerated revenues in the fast-growing global sports data and related digital sports betting markets.”
The transaction is subject to shareholder approval by IXUP shareholders.
