Sports entertainment company FansUnite has completed the acquisition of Vancouver-based iGaming software development firm Askott Entertainment.
The two entities will merge to create a leading online gaming company focused on sports betting and esports wagering. Per the deal, FansUnite will absorb all outstanding securities of Askott Entertainment by way of a three-cornered amalgamation pursuant.
The acquisition of Askott Entertainment will drive FansUnite’s vision of becoming “a leading technology platform” built to serve the ever-growing online gaming market. Askott’s operating history dates back to 2013, creating both B2B and B2C betting products including its esports-focused platform, Chameleon Gaming Platform.
Darius Eghdami, President of FansUnite, commented on the acquisition in a release: “With the Askott acquisition now complete, FansUnite is well positioned to become a leader in the global I-gaming market. The combined forces of both companies will bring together a portfolio of B2B and B2C assets that are unique, industry leading, and support our goal of growing our global footprint in the fast growing gaming industry.”
As a result of this transition, Scott Burton, former Askott CEO, has been appointed the CEO of FansUnite, while Darius Eghdami will assume the role of President at the company. Former Askott CTO Jeremy Hutchings will retain his title at FansUnite, as will Ian Winter, who will step in as the COO.
Burton added: “We are pleased to announce the closing of this transaction as it represents one of our biggest milestones to date and allows us to turn our attention to the future. Our intention as a company has always been to scale and capture market share quickly. With that in mind we have brought together a world class team of executives and board members that have led some of the largest gaming companies in the world. With their help, we will look to execute on our vision of becoming a leader in the global gaming market.”
Askott Entertainment had previously inked a strategic partnership deal with bookmaker Pinnacle in February. The arrangement sought to provide new esports betting markets in tandem with Askott’s Chameleon Gaming platform.
Esports Insider says: The acquisition of Askott Entertainment is one that should put a great deal of power behind FansUnite. With esports betting on the rise, it’s not surprising that companies are looking to get in early with deals such as this.