The asset and wealth management division of JPMorgan Chase & Co has acquired a stake in the sports-focused data analytics firm Kraft Analytics Group (KAGR).

Financial terms of the deal and size of the stake were not revealed.

The move is seen as JPMorgan’s strategy to better serve its wealthiest clients by leveraging data coming in from ticketing sales and legal sports betting.

KAGR, which is backed owners of New England Patriots, specialises in data management, analytics and strategic consulting across sports and entertainment.

Its clients include National Football League, teams across American sports leagues as well as college athletic programmes.

JPMorgan is said to be the first strategic investor in the firm.

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Leveraging proprietary data provided by KAGR provides, JP Morgan will be able to advise its clients who own sports teams and those who are interested in buying.

Recent developments at JP Morgan

Recently, JPMorgan Chase made a £700m acquisition of Nutmeg, a UK-based robo-adviser.

JP Morgan Asset Management acquired forest management and timberland investing company Campbell Global from BrightSphere Investment.

The unit also launched JP Morgan Private Capital to offer customised solutions for early and growth stage companies across the capital structure.

In March, the firm took a 10% stake in the wealth management unit of China Merchants Bank further deepening its China push.

In the same month, JP Morgan Wealth Management divulged plans to hire over 100 financial advisers in the Phoenix metro area by 2022.