Digital sports media company Playmaker Capital on Wednesday said it is adding to its portfolio of brands with the acquisition of Futmarketing, a digital media and marketing group in Brazil.
Playmaker described Futmarketing as a trusted editorial consultant to soccer platforms throughout Latin America.
Futbol Sites, a Playmaker subsidiary, will manage the day-to-day operations of Futmarketing, the parties said.
Pursuant to the terms of a purchase agreement dated December 27, 2021, Playmaker acquired 100% of Futmarketing for aggregate consideration of $4.1m.
Officials said the purchase price consideration consisted of (i) a cash payment of $845,000 at closing and a deferred cash payment of $125,000 on the second anniversary of closing, (ii) a cash payment of $30,000 within 10 days after certain marks for digital assets are transferred to Playmaker, (iii) the issuance of $500,000 of Playmaker common shares on closing, and (iv) up to a maximum of $2.6 million in the form of an earn-out, payable to the sellers upon Futmarketing achieving certain performance related targets over the period beginning on December 1, 2021, and ending on June 30, 2024.
According to Playmaker, Futmarketing has been a leader in Brazil’s digital sports media market for more than five years through a portfolio of social media channels as well as web property, Antenados no Futebol.
In addition, Playmaker said Futmarketing has played a “pivotal role” in establishing Futbol Sites brand, Bolavip, as a source for soccer news and analysis in Brazil.
“Futmarketing will significantly strengthen Playmaker’s competitive positioning in Brazil, an important market for growth as online sports betting is planned to go live in the region in 2022,” Playmaker said in a statement.
Futmarketing currently operates 82 Facebook fan pages, 22 Facebook groups, 16 Instagram accounts, and one Twitter account that in aggregate attract more than 31m followers. Among the standout digital platforms is Antenados no Futebol, a wholly-owned Brazilian sports news portal that specializes in Brazilian soccer content. The company also has a partner network of 210 affiliated social media accounts that reach an additional 32m followers.
“We are delighted to welcome Futmarketing and its outstanding team to the Playmaker and Futbol Sites family,” Federico Grinberg, CEO of Futbol Sites, said in a statement. “Futmarketing guarantees us high-quality standards in terms of editorial production and social media management, as well as an incremental reach that will further strengthen our position as the largest digital sports media group in terms of audience in Latin America.”
Ibson Junior, CEO of Futmarketing, added: “I cannot say enough about how happy everyone at Futmarketing is to be joining Playmaker, and building on our partnership with Futbol Sites. We are flattered to become part of the Playmaker and Futbol Sites family and feel confident that there is no better place for us to be right now. We believe in Playmaker, its goals and its purpose, and our team will continue to elevate the Playmaker and Futbol Sites brand platforms to maximize audience reach.”
