Playmaker has completed its acquisition of the digital betting and media solutions provider.
UK.- The North American sports media company Playmaker has acquired London-based Two-Up in a deal worth $5.8m.
The company will pay $750,000 in cash, $2.5m in newly issued Playmaker common shares and $2.5m in achievable EBITDA targets, with sellers entitled to a bonus earn-out if those targets are exceeded.
Two-Up is a digital betting and media solutions provider that offers ad widgets, data visualisations and betslip tracking for gaming operators, data providers and media.
It has officers in London and Krakow. Clients include SkyBet, GamerWager, Fair Play and William Hill.
Playmaker will integrate the company’s core technology products into its own proprietary technology stack, Playmaker Bench. It will also take on 24 staff in technology, sales and engineering.
Two-Up founder and CEO Robbie Morris said: “Playmaker is a natural fit for Two-Up. We complement the existing strengths within Playmaker well, and, as part of the Playmaker Bench technology suite, we will enhance Playmaker’s monetization efforts across owned and operated properties.
“We’re excited and delighted to become a part of the Playmaker family. This opportunity will allow us to strengthen our core competencies, meaning existing and future clients will continue to benefit from what we set out to deliver in 2016, which is a first-class service.”
Playmaker CEO and founder Jordan Gnat said: “I am pleased to welcome Two-Up into the Playmaker family, and am excited about how Robbie and his team will help bolster Playmaker’s technology offering.
“Two-Up has deep relevance, credibility and unrivalled connections within the online gaming world globally. With this acquisition, we have added yet more value to our shareholders, and taken another step towards achieving our mission of building an ecosystem of assets that will provide sports fans and our clients with outsized value.”
Playmaker has already made two major acquisitions this year, buying Fanáticos Por Futebol in Brazil and the digital media company Yardbarker in the US.