29th November 2006

Dow Schofield Watts has advised on the sale of Portway Press Limited (“Timeform”) to Betfair.

Timeform is a world-renowned brand publishing horseracing ratings, form guides and analysis. The company, founded by Phil Bull in 1948, is an essential source of reference for racing enthusiasts and is used daily by the sport’s professionals and punters.

Operating from its Halifax base, Timeform will retain editorial independence and continue much as before, although Betfair will bring capital investment, as well as technology, marketing and communication skills.

Betfair will seek to incorporate some of Timeform’s existing services into its own offering and utilise its resources to develop new products and further extend Timeform’s global brand.

This is an ideal acquisition for Betfair as the world’s leading betting exchange seeks to build its content offering to customers and develop its portfolio of business and investment interests.