Esports Technologies reaches definitive agreement to acquire Aspire Global’s B2C offering
The esports company will pay a reported $75.9m for Aspire’s proprietary online casino and sportsbook brands.
Esports Technologies, a provider of esports wagering products and technology, has today announced the execution of a definitive agreement for the acquisition of Aspire Global’s B2C offering.
The transaction, worth a reported $75.9m, will see Esports Technologies acquire Aspire’s full B2C portfolio of online casino and sportsbook brands including Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, and GenerationVIP.
Aspire Global, CEO, Tsachi Maimon, 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.”
The specific financials of the deal will see Esports Technologies pay a total of $75.9m, including $58.3m in cash, $11.7m in a promissory note, and a reported $5.9m worth of common stock.
Upon the finalization of the agreement, which is expected to take place on November 30, 2021, Aspire will provide four years of managed services for the acquired brands, a decision made to ensure operational consistency.
Aaron Speach, CEO, Esports Technologies, 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.”
In the financial period ending June 2021, Aspire’s B2C offering recorded a revenue of $73.9m with an EBITDA of $8.2m. Furthermore, the segment recorded wagering of $1.8bn and 1.3bn bets.
Today, Aspire entered into an agreement with Ainsworth to distribute its products in Latin America.
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