By Mark Kleinman, City Editor
A little-known Swedish tycoon has emerged as the mystery buyer of Sporting Index, the world's biggest sports spread-betting operator.
Sky News has learnt that Touchbet, which is based in Malta and is owned by a businessman called Magnus Hedman, was the unidentified third party which last month swooped to acquire the British-based company.
In a statement confirming the sale, Sporting Index, which has an estimated 80% share of the spread-betting market, referred to its acquirer as a "private strategic investor in online sports betting".
Touchbet specialises in providing odds to sports betting operators, an area which complements Sporting Solutions, the division of Sporting Index which supplies real-time pricing and sports trading capabilities to sports books, gaming providers and lottery operators around the world.
Sporting Index was sold by Hg Capital, a private equity firm which had owned the company since 2005.
Touchbet's acquisition of the business remains subject to regulatory approval.
Established in 1992, Sporting Index describes itself as "a leader in sports spread betting, providing its customers with the most exciting way to bet across a wide variety of sports, as well as political and showbiz events".
It has approximately 60,000 customers in 90 countries.
In its statement announcing the takeover, Sporting Index said its new owner "plans to support the Group's current management team in expanding the potential of its B2C [business-to-consumer] betting business, as well as enhancing the range of services provided by the Group's rapidly expanding B2B [business-to-business] pricing and software services business".
Warren Murphy, Sporting Index Group's chief executive, said the new owner was "an excellent fit for our business".
"We have a shared our vision for the future and will receive the necessary resources and expertise to help drive the future growth of both Sporting Index and Sporting Solutions," he added.
Sky News revealed Hg Capital's plan to sell Sporting Index last summer.
Mr Murphy's predecessor as the company's chief executive was Richard Glynn, who has just stepped down as the boss of Ladbrokes, the high street bookmaker.
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