The Press Association has signed a binding agreement to acquire all shares in Australian racing data and technology provider RAS Technology Holdings. The proposed cash transaction values RAS at about A$49.8 million on an undiluted equity basis, but it has not yet completed.
According to the company's ASX announcement, PA will offer A$1.04 per RAS share, reduced by any permitted distribution paid before implementation. The arrangement is being pursued through a wholly owned PA subsidiary.
RAS supplies racing data, analytics and wagering technology. PA provides sports data and content from the UK, and the acquisition would give it an operating platform in the Australian racing market while extending the distribution available to RAS products. The companies are expected to remain separate until the scheme becomes effective, as current transaction coverage also notes.
The RAS board has unanimously recommended the proposal in the absence of a superior offer and provided an independent expert concludes that the scheme is in shareholders' best interests. Founders controlling about 34% of the company have indicated that they intend to vote in favor under the same conditions.
Completion is expected in February 2027, subject to shareholder approval, Federal Court approval and other customary conditions. Inside Asian Gaming's report likewise describes the event as an agreed acquisition awaiting those steps, rather than a closed change of control.
