SharpLink Gaming has today announced that it has acquired assets of FourCubed Management, LLC, and 6t4 Company (collectively called “FourCubed”). Among the assets are FourCubed’s iGaming and affiliate marketing network.
The acquisition by the Minnesota-based company was made for $8.15m. Of this, $6.5m was purchased in cash and in the issuance 600,000 shares of SharpLink. Also, as part of the agreement, is an earn-out payment of approximately 600,000 restricted additional ordinary shares dispensed on the condition that the acquired businesses hit certain delineated performance benchmarks.
Also as part of the acquisition, Chris Carlson, the Founder of FourCubed has been named Vice President of Conversions at SharpLink. His new job will see him managing affiliate strategy.
The move will allow SharpLink to exploit FourCubed’s sizeable affiliate network. Since being established in 2005, the group has come to own and operate an international iGaming network of 12,000 sub-affiliates and has referred over 1.8 million players. With its average revenue of $5.5m over the past three years, FourCubed can boast recurring revenue from some of the world’s leading iGaming operators.
Speaking on the recent acquisition, SharpLink Co-Founder and CEO, Rob Pythian, commented: “The FourCubed strategic acquisition adds an industry respected operating team with decades of combined experience in conversion through affiliate marketing services and in securing highly profitable, recurring, net gaming revenue contracts with many of the world’s leading iGaming operators.”
Carlson of FourCubed also expressed confidence in the acquisition: “I believe that our companies’ united strengths and respective spheres of influence in the industry will create a catalyst for pronounced growth of SharpLink will into the foreseeable future.”
