OpenTV Corp. is extending its tentacles a little deeper into the betting
business, announcing that it's acquiring nearly all of the assets of BettingCorp
Ltd. for approximately $10 million.
BettingCorp provides betting and gaming technology on OpenTV software on
British Sky Broadcasting Group plc’s direct-broadcast satellite platform.
BettingCorp's technology allows gaming and betting providers to extend their
services to the Internet, TV and wireless platforms using one back-end
management system and a single user account. The company also offers back-office
operating modules and games, plus customer-relations management, support and
The company's technology is behind the "Play Monte Carlo" game platform on
BSkyB. The game offers fixed-odds multiplayer digitized horse-racing games, as
well as numbers games, dice games and slot-type games to BSkyB's 6.8 million
"By incorporating BettingCorp's technology into OpenTV's product offering, we
believe we can provide our customers with the most advanced betting and gaming
solution for [interactive TV], allowing them the opportunities to broaden their
product offering to their customers and to increase their revenues," OpenTV
chairman Peter Boylan III said in a prepared statement.
OpenTV said it paid cash and stock for the company, plus assumption of
liabilities, with the stock consideration making up 70% of the $10 million
The company added that it expects to invest $3 million-$5 million in
BettingCorp over the next few years.