On Friday, October 1st, 2021 Esports Technologies announced the definitive agreement for the acquisition of Aspire Global’s B2C business that recorded $1.8 Billion in betting as well as $73.9 Million in revenue over the course of the past twelve months. Upon closing this new deal, Esports Technologies will receive Karamba, Dansk777, Hopa, Griffon Casino, GenerationVIP, BetTarget, and 1.25 million already deposited customers in the palm of their hands.
Esports Technologies, Inc. (Nasdaq: EBET), just so happens to be a leading worldwide operator of progressive e – sports gambling products, services, and technology platforms, just announced the execution of the definitive agreement for the acquisition of Aspire Global’s (STO: ASPIRE) B2C business via a $75.9 million total transaction. This transaction includes $58.3 million in cash considerations, $11.7 million in a promissory note, and around $5.9 million in common stock. The closing of this fresh acquisition agreement is subject to Esports Technologies’ receipt of financing, and other specific closing requirements. The transaction is expected to finalize and close somewhere around the date of Tuesday November 30th, 2021.
Under the terms & conditions of this agreement, Esports Technologies will gain control of Aspire Global’s powerful portfolio of business to consumer unique proprietary online casino and online sportsbook brands that currently include Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, and GenerationVIP. Tactically, Esports Technologies plans to utilize the multiple – brand deal in order to cross – sell e – sports gambling opportunities so that they can increase its e – sports revenue, player bet transactions, and customers.
During the most current twelve – month period ending in June of 2021, Aspire Global’s business to consumer revenue was estimated at approximately $73.9 million and its EBITDA was around $8.2 million. In that same period of time, the business to consumer business documented wagering of approximately $1.8 billion as well as just over 1.3 billion in bets. 
Upon the finalization of the agreed upon deal, Aspire Global as well as Esports Technologies will enter into a contract in which Aspire Global will provide 4 – years of managed and fully – operated services for the newly acquired and agreed upon brands in the deal. This will guarantee the operational continuity as well as enabling Esports Technologies to grow and increase their operations in key targeted markets.
Media Statements
Esports Technologies has entered into binding contracts with particular investors which allows for a private placement of $36.2 million consisting of convertible preferred stock at the initial conversion of $28 / share, and this agreement is subject to adjustments in the future and permits the purchase of common stock. The conversion of the preferred stock and exercise of the warrants is subjected to the overall shareholder approval for these receipts. Needham & Companyacted as the only placement client for the private placement.
The CEO of Esports Technologies, Aaron Speach, stated, “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.”
The CEO of Aspire Global, Tsachi Maimon, explained, “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.”
Links to Conference Call Regarding the Details of this New Acquisition
A conference call is set for Monday, October 4th, 2021 at 4:00 p. m. EDT, in order to review the details of the planned acquisition. The link to listen to the call is: Esports Technologies to Acquire Aspire Global – 1502560.
A replay of the call will be available on Esports Technologies’ Investor Relations page at: Investor Overview – ESPORTS Technologies Inc. .
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