Seeking to boost its operational database provisions, independent sports betting operator bet365 has agreed to acquire bankrupt Basho Technologies assets (deal undisclosed).
Confirming the acquisition last week, bet365 Chief Technology Officer Martin Davies posted an update on Basho’s online community detailing that ‘an agreement had been reached, to buy all remaining Basho assets’.
Founded in 2008, Washington-based Basho is a specialist in NoSQL development and is the operator/distributor of Riak database technologies.
The firm is reported to have been in financial difficulty since 2015, with its executive team undertaking a Delaware legal dispute against venture backers Georgetown Capital Partners. Running out of operational funds, last July Basho management placed itself into receivership, beginning its asset sell-off.
bet365 which develops its proprietary sportsbook product and digital platform have previously backed Basho’s Riak as a database technology. In his conformation statement, Martin Davies detailed that bet365 development would move to ‘open source’ all remaining Basho technologies to outside developers.
“It is our intention to open source all of Basho’s products and all of the source code that they have been working on. We’ll do this as quickly as we are able to organise it, and we would appreciate some input from the community on how you would like this done.”