MIXI, a social media and tech conglomerate, has received the go-ahead from Australia’s Foreign Investment Review Board (FIRB), as the company seeks to acquire Pointset in a yet unfinalized deal that is due customary regulatory clearances and has yet to be brought to a successful conclusion.
MIXI is one step closer to acquiring PointsBet assets
MIXI has already submitted a tentative bid in June, however, offering to pay AU$402m for the acquisition of the prominent Australian brand, which is also operating in Canada, after it exited the United States in 2024.
This approval and MIXI’s proposal come after the acquiring company decided to increase its original offer and outbid Betr, the operator of BlueBet, which offered AU$360m to buy out PointsBet’s assets in April. Even at that lower price tag, the Australian gambling major was giving a sale strong consideration.
The news that MIXI has secured an important regulatory hurdle has been confirmed by PointsBet, as details about the potential acquisition continue to be released.
PointsBet has recommended that shareholders accept the deal, provided that there are no better offers available.
According to PointsBet, the latest regulatory approval indicates that the government is in favor of the deal and is aware that MIXI is seeking to buy a 100% stake in the company that is being acquired. Yet, there are more clearances to obtain.
PointsBet is also operating in Ontario, Canada, which means that the acquisition must also be approved by the local regulator, the Alcohol and Gaming Commission of Ontario (AGCO), as well as iGaming Ontario.
MIXI, in the meantime, is already available locally and has been involved in the Australian sports betting market in the Northern Territory, where the company holds a license and operates the betM brand.
