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    Esports Technology acquires Aspire Global’s B2C brands

    news thumbnail image

    Esports Technology is in the process of acquiring Aspire Global’s B2C business to boost eSports betting growth.

    There is plenty of movement, change and growth in the online gambling industry to take note of. Most recently, Esports Technologies Inc entered a definitive agreement to acquire Aspire Global’s B2C business.

    The deal is set at $75.9 million and will be the groups largest merger and acquisition to date with various benefits.

    A mega-merger

    The Technology group will pay $58.3 million in cash for Aspire’s B2C portfolio. The remainder of the transaction will be paid for by promissory note of $11.7 million, a further $6 million will be paid in company stock.

    Once the transaction is complete, Esports Technologies will have control of Karamba Casino, BetTarget, Griffon Casino, BetTarget, Dansk777, Hopa, and GenerationVIP. Along with their 1.25 million customers.

    Esports Technologies is using the acquisition of the B2C division to help along with their strategy for cross-selling eSports betting opportunities which will increase its eSports revenue along with the betting transaction for players.

    CEO of Esports Technologies, Aaron Speech, states that the acquisition of Aspire’s B2C business will serve as a transformative opportunity to accelerate their growth. Allowing them to offer eSports betting to 1.25 million new customers. According to Speech, they are in a very strong position where they can benefit from the growing popularity and interest in Esports.

    It’s a match

    One of the ultimate goals for Esports Technologies is to continue to grow and increase its presence within the gambling industry. With access to new, popular B2C brands and their 1.25 million customers this gives them a clear head start in the right direction.

    Aspire Global and Esports Technologies will be partnering to benefit from one another’s technology solutions. Aspire Global will also be integrating Esports Technologies’ proprietary odds modelling, market creation and trading feed to its platform.

    Esports Technology will, on the other hand, get to benefit from Aspire Global’s customer relations management system AspireEngage along with offers under the various brands.

    Aspire set for four years

    In the acquisition Aspire and Esports Technologies agree that Aspire will be providing four years of managed services for the acquired brands.

    With this move, they ensure there is an operational continuity, which also enables Esports Technologies to expand its operations into key markets.

    CEO of Aspire Global, Tsachi Maimon, says that Esports Technologies is a strong company with big growth ambitions and as such a perfect fit for the B2C brands. With Aspire Global’s B2C business, they now gain leading and well-established brands which provide an excellent foundation for further growth. They also get access to a talented team able to contribute to further expansion.

    The finance of the acquisition is done privately with investors putting in $36.2 million. This will set preferred shares at about $28 per share at the initial conversion.

    Maimon also states that Esports Technologies will be the one to take the B2C brands to the next level and they are ecstatic to welcome Karamba and the other B2C brands as new partners.

    In the past 12 months up to June 2021, Aspire Global’s B2C revenue hit $73.9 million, and EBITDA was at $8.2 million. In this time the B2C business captured $1.8 billion with over 1.3 billion in bets.

    The partnership will be mutually beneficial with both getting to take advantage of technologies, software and features that will increase the user experience for players and customers. The overall focus for Esports Technologies at the current time seems to be to make the transition of the B2C brands as seamless as possible.

    Published: October 19, 2021

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    Article by Stelly

    CasinoWow Contributor

    Hey there! I am Stelly, and happily, I'm part of CasinoWow's content team. It excites me to be able to write and share with all gambling enthusiasts unbiased reviews and news that contribute to the gambling community and industry. Thankfully, I also have the chance to help you make an informed choice for casino brands and games, as well as provide interesting guides and news.

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