• M&A Group agrees to acquire RotoWire for $27.5m

By Robert Fletcher Group has entered into a definitive agreement to acquire Roto Sports, the operator of US-facing fantasy sports news and advice site, for $27.5m (£20.8m/€24.3m).

The group will pay an initial $20.0m at closing, consisting of $15.0m in cash and $5.0m in newly issued, unregistered ordinary shares, with the remaining $7.5m to be split over two payments of $2.5m and $5.0m due on the first and second anniversaries of the closing, respectively, said the purchase would expand its US presence, with plans to leverage RotoWire’s existing audience, content library, talented workforce, media partnerships and trust with US sports fans to accelerate its business in the US online sports betting market.

The group added that combining Rotowire with its digital expertise and technology platform will help to drive substantial, incremental affiliate revenue in the sports betting sector.

Read the full story on iGB North America.

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