XB Systems has just signed an agreement to merge its X-Bet.co eSports betting brand with Buff.bet, an UltraPlay white label site. This deal is said to support its planned initial public offering or IPO.
Under the agreement, XB Systems will merge with Buff.beet to offer the latest wagering platform to eSports fans.
X-bet.co will gain control of the management and operations (and also the doman and assets) of the merged business. They will now operate the new entity under the Buff.bet banner.
UltraPlay will continue to be the platform provider for the new venture in the foreseeable future, as it has previously provided the platform to XB Systems for its X-Bet.co brand.
The merger between two brands come at a time when XB Systems is getting ready set up an IPO of its business. JP Capital Investments, a boutique financial advisory provider, has been assigned as partner for the IPO.
“The merger is an absolute recipe for success and a win-win situation for everyone; under the Buff.bet brand we are targeting a major slice of the global esports market,” Daniel Miller, XB Systems chief executive, said.
“With our unique proposition of media portal and esports betting site powered by UltraPlay’s data and betting solutions, we are certain that our market share will grow massively over the next 24 months,” he added.
Mario Ovcharov, UltraPlay’s chief executive, also commented on the deal, saying: “We believe that X-Bet.co and Buff.bet will form a great synergy together.”
“With the two sites joined forces and the experienced management team of XB Systems firmly in place, Buff.bet will undoubtedly go from strength to strength becoming one of the leading esports betting operators worldwide,” he added.