Esports Technologies, one of the most prominent global providers of esports wagering products and technology, has signed an agreement that will finalize Aspire Global’s B2C business for $75.9 million.
According to the agreement, Esports Technologies has agreed to pay $58.3 million in cash, $11.7 million in a promissory note and around $5.9 million in common stock. This agreement is expected to close by November 30, 2021.
The agreement includes the acquisition of Aspire Global’s B2C proprietary online casino and sports betting brands, Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, and GenerationVIP. The acquisition is an opportunity to accelerate growth by offering esports wagering to 1.25 million new deposited customers.
Representatives from Esports Technologies, which recently appointed a new CEO, say that the acquisition of Aspire’s B2C business will allow them to benefit from heightened popularity and growing interest in esports.
Esports Technologies CEO Aaron Speach said: “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.”
Officials from Aspire Global, which recently unveiled its AspireCore platform, say that Esports Technologies has high growth ambitions and that they are a perfect match for their B2C brands.
Tsachi Maimon, CEO of Aspire Global, added: “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.”
In the recent 12-month period ending June 2021, Aspire Global’s B2C revenue was $73.9 million, with EBITDA of $8.2. They recorded wagering of $1.8 billion and over 1.3 billion bets.
Once the acquisition is completed, Aspire Global and Esports Technologies will enter a partnership where the former will provide four years of managed services for the acquired brands.
Aspire Global has been working with some of the biggest names in the iGaming Industry, such as Quickfire, Aristocrat, Quickspin, Barcrest, NetEnt, and more. Since its beginnings in 2005, the aim has been to provide comprehensive solutions enabling online marketing companies to become successful iGaming operators.
“Aspire Global Sells Its B2c Segment To Esports Technologies “, aspireglobal.com, October 1, 2021.
The post Esports Technologies Signs Acquisition Agreement with Aspire Global’s B2C Business first appeared on RealMoneyAction.com.