Esports Technologies Inc, a company that develops and operates platforms focused on eSports, has announced an agreement to acquire Aspire Global’s B2C business for $75.9m.
The transaction will be split into $58.3 million in cash, $11.7 million in promissory notes, and approximately $5.9 million in common stock. The closing of the acquisition is subject to Esports Technologies receipt of financing, as well as other closing requirements. The transaction is expected to close by November 30, 2021.
As a result of this acquisition, Esports Technologies will acquire Aspire’s portfolio of proprietary B2C online casinos and sports betting brands including Karamba, Hopa, Griffon Casino, BetTarget, Dansk777 and GenerationVIP.
Esports Technologies intends to utilize the multiple-brand acquisition to cross-sell esports wagering opportunities to increase its esports revenue, player bet transactions, and customers.
Aspire will provide four years of managed services for the acquired brands, ensuring operational continuity while allowing Esports Technologies to scale its operations in key markets.
Esports Technologies CEO Aaron Speach commented:
“We have high growth ambitions and aim to be one of the biggest esports operators in the world. Aspire Global’s B2C-brands are excellent complements to our strong-growing Esports Technologies brand and will be key in the continued execution of our growth strategy.”
“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.”
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.”
About Aspire
Aspire Global is a B2B-provider of iGaming solutions, offering companies assistance to operate a successful iGaming brand, in casinos and sports. In addition to the B2B-offering, Aspire Global also operates several B2C-brands, including Karamba, the greatest showcase of the strength of the B2B-offering. The Group operates in 30 regulated markets spanning Europe, America and Africa, including countries like the US, UK, Denmark, Portugal, Spain, Ireland, Nigeria, Colombia and Mexico. Offices are located in Malta, Israel, Bulgaria, Ukraine, North Macedonia, India, Italy and Gibraltar.
Liz Moreno is a New Jersey based freelance writer and a huge US Sports aficionado. She keeps up to date with all things US when it comes to betting, casinos and regulations.