Arena Racing Company (ARC) has purchased a 45 per cent stake in i-neda Limited which will see them become an equal shareholder in the business alongside Dermot Desmond.
The purchase is set to complement ARC’s position in the British horse racing industry, with i-neda set to offer a wealth of experience in developing betting and wagering technology.
Kevin Robertson, ARC Group Corporate Development Director said: “As with all areas of our business, we always look to bring skills and expertise in house where we can. i-neda have been a significant partner of ours for many years, so the opportunity to invest and work even more closely made complete sense. We are delighted to formalise our partnership in this manner.”
I-neda currently offer horseracing technology solutions across the USA, Europe and Asia, and has recently won the tender to provide on course Tote services to Britbet, used across 55 British racecourses.
Martin Pickering, chief executive officer at i-neda added: “I am delighted to welcome ARC to our board, i-neda are dedicated to delivering the best wagering solutions in the world for horse racing and having ARC as key shareholder brings us into the heart of the industry, bridging racing content with wagering abilities.
“ARC’s portfolio of data and events along with their insight and experience we will ensure i-neda products and services are at the cutting edge of technology and delivering exciting future wagering services for the market.”