Entain has moved to increase its exposure in esports, announcing a US$13.25 purchase of leading data and technology firm Sportsflare. <\/p>\n
A subsidiary of Tiidal Gaming, Sportsflare claims to be “focused on creating new betting experiences with technology for the esports era.”<\/p>\n
Tiidal Gaming will sell all of Sportsflare’s shares to Entain under the terms of the agreement, though several conditions must be met for the transaction to be completed.<\/p>\n
One of the major conditions is Tiidal needs their shareholders to approve the acquisition. <\/p>\n
Tiidal Gaming CEO Thomas Hearne commented on the acquisition news and explained why the company chose to sell. <\/p>\n
\u201cI am incredibly proud of what the Sportsflare team has done over the last year,\u201d Hearne said.<\/p>\n
\u201cGiven the capital markets environment, we believed it was best to find a great home for Sportsflare in order to maximise value for Tiidal shareholders.<\/p>\n
\u201cSportsflare will be a great fit with Entain\u2019s strong presence in the industry and our board of directors is confident that Sportsflare joining Entain is the best long-term solution for its employees and partners.\u201d<\/p>\n
As a part of the transaction Tiidal has secured a loan agreement with Ladbrokes Group Finance, which is one of Entain\u2019s affiliate brands.<\/p>\n