The PA agrees to acquire Racing and Sports owner RAS

The PA, a multimedia news agency, announced on 19 October that it has agreed to acquire RAS Technology Holdings, the owner of Racing and Sports, for an undisclosed sum. Under a binding scheme implementation deed, The PA will acquire all of RAS's issued shares. The transaction is subject to regulatory and shareholder approvals, and the companies expect it to close in February 2027.

The PA said the acquisition will give it access to Australia's betting market. After completion, the companies plan to use the Wagering 360 platform to offer a combined product to media and betting partners, with a broader product range, wider international coverage and a faster services pipeline, according to the announcement. The PA said it has been involved in horse racing for about four decades, and its Podium sports betting division supplies racing and sports data to bookmakers and broadcasters.

RAS was founded in 1999 and listed publicly in 2021. The company has relationships with racing bodies and sportsbooks in Australia and Asia, and works in sports technology, analytics and digital media, according to the announcement. The RAS board has recommended that shareholders vote in favour of the scheme.

The PA chief executive Emily Shelley said the companies share values on trust and integrity and have complementary strengths and global reach. "Combined with The PA’s trusted heritage and Podium’s technology, this will enable us to develop new products faster and support the long-term growth of racing and the wider sports industry," Shelley said.

Stephen Crispe, who leads RAS as chief executive, described the transaction as an "important step" for the company's staff, customers and heritage. He went on to explain what the merged business would provide, saying it would give clients a wider selection of established and fresh offerings, richer data choices, modern technology and dependable service, while preserving the know-how, connections and sector experience on which both firms were founded.

Josh Sparke, managing director of Podium, said the two businesses have natural synergies and that their data, technology and product strengths complement each other. "We share a commitment to delivering accurate, timely and trusted services, and together we will have greater expertise, capability and reach to support our customers, accelerate product innovation and open up new opportunities across international markets," Sparke said.