Esports Entertainment Group has finalized its acquisition of technology assets from Flip Sports, a mobile gaming studio, although the financial details remain undisclosed. This move, announced last month, allows Esports Entertainment to gain control over various assets such as staff and all intellectual property owned by Flip. Flip's focus is on enhancing how fans interact with live sports through its proprietary in-play, peer-to-peer technology, which supports a multi-platform second-screen experience for viewers and bettors alike.
Grant Johnson, the CEO of Esports Entertainment, characterized the acquisition as a significant advancement for the company, empowering it to own and manage its technology stack. "With this transaction, we're also gaining a world-class development team with a specific expertise in gambling, along with award-winning customized software, and as a bonus, they have existing revenue which adds to our financials," Johnson explained.
John Brackens, who serves as both chief information officer and chief technology officer at Esports Entertainment, welcomed the Flip team, highlighting their leadership in building igaming platforms. He stated that this acquisition will enhance the player experience, ultimately creating a top-tier immersive environment for esports fans.
The acquisition of Flip comes amid a flurry of merger and acquisition activity at Esports Entertainment. Just last month, the company announced its intent to acquire the UK-based Esports Gaming League (EGL). In July, it also purchased online betting and gaming operator Argyll Entertainment and its operating subsidiaries, again for an undisclosed amount. That same month, Esports Entertainment partnered with Akur Capital, an independent capital markets adviser, to bolster its M&A strategy.
