Yahoo!7 acquires OzTips.com

Yahoo!7 has taken over sports tipping site OzTips.com.   The announcement:

Yahoo!7 today announced that it has agreed to acquire OzTips.com, Australia’s largest online sports tipping website, from NextGen.Net Pty Ltd.

The 100% acquisition of OzTips will build on the existing Yahoo!7 Sports site to quickly move Yahoo!7 to a leadership position in the Australian online sports publishers category.

“The team at NextGen have done a great job of building OzTips and its loyal audience who are passionate about sport.  The acquisition allows us to continue to deliver on our promise of helping to connect Australians to the people and things that matter most.  It’s about providing useful tools and information that help Australians to live their lives,” said Rohan Lund, Yahoo!7 CEO.

“Our research has shown that tipping audiences are highly engaged and passionate about sport. Called the ‘uber fan’ these people spend 14.1 hours a week on sports websites which is seven times more than a casual sports fan. 93% of the ‘uber fans’ go online while watching a game and 56% are more likely to pay attention to ads on sports site more than other general websites,” he said.

NextGen.Net is a leading provider of online software solutions to the banking and finance industry, and established OzTips.com in 1999.  CEO of NextGen.Net, Adrian Macleod, commented: “We created OzTips with the simple vision of making footy tipping and sports tipping available to everyone, easy and free.  We succeeded beyond our wildest imagination and forever changed the way office tipping competitions are run.  Now with the innovative direction of Yahoo!7, we can’t wait to see them take tipping to the next level.”

The acquisition will complete in July 2010.

Source: Yahoo!7 press release

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