Sportech invites would-be buyers to kick its tires

UK-listed gambling operator Sportech has concluded that its future lies with someone else taking the wheel, and therefore it’s inviting prospective buyers to come kick its tires.

In September, Sportech announced that it was launching a comprehensive review of its business and capital structure, with “all options to optimize value for the benefit of shareholders under consideration.”

The results of that review are now in, and the company announced Thursday that it had “decided to seek offers for the Company.” Sportech has appointed Canaccord Genuity Limited to serve as its financial adviser for this process.

Sportech claims to have already received queries from “several parties” following its September announcement, with four of these parties having made “preliminary approaches to acquire” Sportech’s operations, although the company says it has yet to engage in “detailed discussions” with any of these parties.