Timeweave, through a wholly-owned subsidiary, is a 50 per cent shareholder in a joint venture company, Amalgamated Racing Limited ("AMRAC"), which holds exclusive licences with 34 racecourses to broadcast pictures, audio and data from these courses to licensed betting offices within the UK and the Republic of Ireland.
Timeweave is a 25.31% shareholder in DCD Media plc, and also invests in this business through loan notes. DCD Media is a vertically integrated producer and distributor of TV programming selling content and rights internationally. It was founded in 1999, admitted to AiM in the same year, and has since developed by organic growth and acquisitions.
The company also wholly owns and operates SportingWins, a company which writes financial contracts, “hedging agreements” to cover financial risks of corporate clients which are dependent on the results of professional sports events. Since inception in October 2006, the business has signed contracts with over 40 clients across 15 countries covering more than £130million of risk.
Additionally, the company has a strong balance sheet and significant cash balances. Consequently, Timeweave continues on an investment programme to acquire and invest in growth opportunities in specifically targeted sectors.
Timeweave is led by David Craven, who joined the Company as Chief Executive Officer in April 2011. David has extensive betting, gaming and media experience having held a number of senior roles in these industries. He was joint Managing Director of the Tote for six years and was closely involved in its privatisation. He has held senior executive roles at UK Betting Plc and Wembley Plc,and began his career in newspaper journalism working with Mirror Group Newspapers, News International and News Corp. He was a co-founder of broadband and interactive TV media group, UPC Chello, and is a co-founder of the Gaming Media Group.