SharpLink Gaming acquires certain assets of FourCubed for $8.15m
Deal consists of $6.5m in cash and assets include FourCubed’s igaming and affiliate marketing network
Minneapolis-based SharpLink Gaming, which provides technological solutions and experienced-based services for the US online sports betting industry, has announced the acquisition of certain assets of FourCubed Management, LLC and 6t4 Company (collectively, “FourCubed”), including FourCubed’s igaming and affiliate marketing network focused on delivering player acquisitions, retention and conversions to igaming operator partners worldwide.
SharpLink has acquired certain assets of FourCubed for $8.15m (£6.01m), which consists of $6.5m in cash and the issuance of approximately 600,000 restricted ordinary shares of SharpLink.
The transaction also provides for an earn-out payment of up to approximately 600,000 additional restricted ordinary shares based on the acquired business achieving specific agreed-upon performance benchmarks.
SharpLink Gaming only last month announced that it had agreed to integrate its respective technologies with Santa Clara-based Quintar, developer of the world’s first AR-centred sports fan technology platform, to produce an AR experience that combines live sporting events with real-time sports betting for sports fans.
Established in 2005, FourCubed owns and operates an international igaming affiliate network of over 12,000 sub-affiliates and reports to have delivered more than 1.8 million referred players. Over 90% of its revenue stems from recurring net gaming revenue contracts with several elite igaming operators including partypoker, bwin, Unibet, GG Poker, bet365, 888poker and Betfair.
Rob Phythian, co-founder and CEO of SharpLink, stated: “The FourCubed strategic acquisition adds an industry respected operating team with decades of combined experience in conversion through affiliate marketing services and in securing highly profitable, recurring, net gaming revenue contracts with many of the world’s leading igaming operators.”
He added: “FourCubed has differentiated itself by forming sticky relationships with its customers through its high tech, high touch strategy and proven player conversion methodologies.”
“We believe that FourCubed’s technology platform, its team’s affiliate marketing expertise, as well as its approach to player conversions, can be readily adapted to SharpLink’s platform, unleashing extraordinary value from our growing audience of sports fans as adoption of our C4 sports betting conversion technology continues to accelerate.”
Elsewhere, Chris Carlson, founder of FourCubed, has been named as vice-president of conversions at SharpLink with responsibility for managing affiliate marketing strategy and execution, collaborating on partnership development and growth, and driving profitability.