Source : Ayo News
Aspire Global has agreed to sell its B2C division to Esports Technologies Inc., for around €65M. The transaction also includes a four-year platform and managed services agreement, with an estimated gross value of €70M.
The acquisition will see Esports Technologies pay Aspire Global €50M in cash, €10M in a promissory note, and €5M in common stock. The platform and managed services agreement consists of royalties related to the use of Aspire Global’s platform and services for the next four years. If the estimated gross value of the platform and managed services agreement proves accurate, it will mean the combined deal has an overall value of approximately €135M.
Aspire Global’s B2C division is made up of several B2C bands, including Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, and GenerationVIP . In Q2 2021, the B2C division reported rolling twelve-month net gaming revenues of €61.8M and €6.9M in EBITDA, with significant growth reported across all main brands.
Strategically, Esports Technologies says it intends to utilise the multi-brand acquisition to cross-sell esports wagering opportunities to increase its esports revenue, player bet transactions, and customers.
Tsachi Maimon, CEO of Aspire Global, said: “Esports Technologies is a strong company with high growth ambitions and is a perfect match for our B2C-brands. With Aspire Global’s B2C-brands, Esports Technologies gains leading, well established brands, an excellent base for further growth and a very talented team that contributed to the B2C’s growth. We are confident that Esports Technologies will take our B2C-brands to the next level and we welcome Karamba and the other B2C-brands as our new partners.”
Aaron Speach, CEO of Esports Technologies, added: “The acquisition of Aspire’s B2C business will be a transformative opportunity to accelerate growth by offering esports wagering to 1.25 million new deposited customers. Our company is in a strong position to benefit from the heightened popularity and growing interest in esports.”
The acquisition is expected to close by 30 November 20201, subject to Esports Technologies receipt of financing, and other customary closing requirements.
Earlier this year, AYO.NEWS’ Simona Pinterova caught up with Aaron Speach, CEO of Esports Technologies, to find out more about his experience in esports and the company’s ambitious plans to create the world’s best esports betting platform.
Source : Ayo