FansUnite Entertainment Inc. (FANS:CSE; FUNFF:OTCMKTS) announced in a news release it closed the acquisition of Askott Entertainment, a gaming software development firm and "first mover in the esports sector."
"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 business to business and business to consumer assets that are unique, industry leading, and support our goal of growing our global footprint in the fast growing gaming industry," FansUnite President Darius Eghdami said in the release.
With the acquisition, FansUnite stated it can now offer customers a broader range of betting options in the forms of sports, esports, casino games and others.
According to the company, "the acquisition of Askott supports FansUnite's vision to become a leading technology platform that can serve a growing online gaming market. Askott has a rich operating history dating back to 2013 with a focus on creating both B2B and B2C betting products in the rapidly growing esports industry. Most recently, Askott's B2B Chameleon Gaming platform was shortlisted for the 2020 EGR B2B Awards for Esports Betting Supplier of the Year. With Askott Entertainment being a first mover in the esports sector, FansUnite will now be able to accelerate their trajectory by providing customers with a broader range of betting options that includes sports, esports, casino games and many others."
Upon completion of the transaction, the total number of FansUnite shares issued and outstanding is 154,345,706, the company noted.
As far as management and board changes resulting from the deal, Askott founder and CEO Scott Burton is now the CEO of FansUnite, and Darius Eghdami is the president. Jeremy Hutchings, Askott's chief technology officer, now holds that position with FansUnite. Ian Winter, Askott's chief operating officer is now FansUnite's chief operating officer. Duncan Peter McIntyre resigned from Askott.
Burton, James Keane and Chris Grove replaced the three board members who resigned: McIntyre, Saxon Tudor Shadforth and Shafin Diamond Tejani.
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