Minneapolis-based online tech company SharpLink Gaming Acquires Certain Assets From FourCubed, Owner Of An iGaming And Affiliate Marketing Network With Over 12,000 Sub-Affiliates, the company said on Wednesday.
Strategic acquisition is expected to unlock and fuel the conversions and lifetime customer value of SharpLink’s 2.5 million and growing fantasy and sports game customer base, according to a press release about it.
SharpLink, which specializes in technology solutions and experience-based services for the US online sports betting industry, said it has acquired certain assets from FourCubed for total consideration of $ 8.15 million, which includes $ 6.5 million in cash and the issuance of approximately 600,000 restricted common shares of SharpLink.
In addition, the transaction also provides for a price supplement of approximately 600,000 additional free ordinary shares. based on the achievement of specific performance criteria agreed by the acquiree, further announced SharpLink.
“FourCubed Strategic Acquisition Adds Industry Respected Operations Team With Decades Of Combined Experience in converting through affiliate marketing services and in securing highly profitable and recurring net gaming revenue contracts with many of the world’s leading video game operators â, said Rob Phythian, co-founder and CEO of SharpLink.
According to the CEO, FourCubed has âdifferentiated itselfâ from its competitors by building âstrong relationshipsâ with its customers through a high-tech, high-tech strategy and proven player conversion methodologies.. FourCubed’s iGaming and Affiliate Marketing Network delivers quality traffic and player acquisitions, retention and conversions to iGaming Operator Partners worldwide.
“We believe that FourCubed’s technology platform, their team’s affiliate marketing expertise, as well as their approach to player conversions, can be easily adapted to SharpLink’s platform., unleashing extraordinary value from our growing sports fan base as the adoption of our C4 sports betting conversion technology continues to accelerate, âadded Phythian.
Created in 2005, FourCubed operates an international iGaming affiliate network consisting of over 12,000 sub-affiliates and has delivered over 1.8 million sponsored players since the network launched in 2008. Over the past three years, FourCubed has achieved an average annual revenue of over $ 5.5 million.
Over 90% of FourCubed’s revenue comes from recurring gaming-related net revenue contracts with several leading iGaming operators around the world., including Party Poker, bwin, UNIBET, GG Poker, Bet365, 888 poker, betfair, among others.
âWe also believe that FourCubed has reached a key inflection point in the evolution of its own business and is ideally positioned for the dynamic growth of its online poker and casino games business through expansion into the emerging markets of iGaming and sports betting in the United States, âadded Phythian.. âTherefore, we believe this acquisition provides SharpLink with the additional firepower to help transform our company into a true industry force. “
Following the deal, Chris Carlson, founder of FourCubed, has been named vice president of conversions at SharpLink. In this role, Carlson will be responsible for managing the strategy and execution of affiliate marketing, helping to develop and grow partnerships and drive profitability.
“I believe the united strengths of our companies and the respective spheres of influence in the industry will create a catalyst for sharp growth for SharpLink for the foreseeable future,” commented Carlson on the acquisition. âWith the iGaming and sports betting markets starting to gain momentum in the United States, we couldn’t be more excited about the opportunity to help ensure SharpLink gains industry dominance. “