Esports betting operator Esports Entertainment Group has completed its acquisition technology assets from mobile gaming studio Flip Sports for an undisclosed amount.
Announced last month, the agreement will see Esports Entertainment take ownership of various assets owned by Flip, including staff and all intellectual property.
Flip primarily focuses on how fans enjoy and engage with live sports, utilising its proprietary in-play, peer-to-peer technology to provide a multi-platform second-screen experience for fans and punters watching live sports and events.
Esports Entertainment chief executive Grant Johnson described the acquisition as a “major step forward” for the operator, allowing it to both 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 customised software, and as a bonus, they have existing revenue which adds to our financials,” Johnson said.
Esports Entertainment’s chief information officer and chief technology officer, John Brackens, added: “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.”
Confirmation of the Flip purchase comes amid a range of M&A activity at Esports Entertainment, with the operator last month having also agreed to acquire UK-based Esports Gaming League (EGL).
In July, Esports Entertainment also acquired online betting and gaming operator Argyll Entertainment and its operating subsidiaries for an undisclosed amount.
Also in July, Esports Entertainment struck up a partnership with independent capital markets adviser Akur Capital to support its M&A strategy.