Timeform tipped to be taken over
Timeform, the popular firm of racing analysts, is close to be taken over by the betting exchange service Betfair, according to reports.
Talks are said to be close to a conclusion and it is expected that a deal will be done by the end of the week.
Betfair spokesman Tony Calvin said: “We can confirm Betfair is in discussion with the directors of Portway Press Ltd, owners of Timeform. These discussions may or may not lead to an offer for Portway Press Ltd.”
Timeform, founded by Phil Bull, has become one of the market leaders in form analysis since its incarnation in 1948, using a series of mathematically-based ratings. Its independence has been its main attraction to punters, and according to Managing director Jim McGrath, the honest virtue of their information can always be trusted, whether it is right or wrong.
"We're not always right, but we give an opinion, and people know that we don't have a vested interest, or any concerns about what it did or didn't cost,"
Timeform is valued at around £15 million and would be an interesting move for Betfair, and its acquisition of Timeform coupled with its current betting exchange service could provide a “one-stop” service for punters to analyse form and place their bets.
Editor, Jackpot.co.uk - 2006-11-28 12:04:55