Online gambling operator Esports Entertainment Group has just finalized its acquisition of technology assets from mobile gaming studio Flip Sports. Details on how much the operator paid for the acquisition remain unknown.
The agreement, which was announced last month, will have Esports Entertainment take control of several assets owned by Flip Sports, including staff and all intellectual property.
Flip Sports is mainly focused on how fans enjoy and engage in live sports, and uses its proprietary in-play, peer-to-peer technology to offer a multi-platform second-screen experience for fans and punters enjoying live sports and events.
Grant Johnson, Esports Entertainment chief executive, described the acquisition as a “major step forward” for them, allowing them to own and control 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, Esports Entertainment’s chief information officer and chief technology officer, also commented saying:
“As leaders in building igaming platforms, the Flip team is a welcome addition to Esports Entertainment and will enable us to take the player experience to new heights, ultimately creating a best-in-class immersive experience for esports fans.”