• M&A Group completes $27.5m purchase of RotoWire

By Robert Fletcher

The Group has completed its acquisition of Roto Sports, the operator of US-facing fantasy sports news and advice site, for $27.5m (£20.4m/€24.4m).

Under the deal, agreed last month, Group paid an initial $20.0m at closing, consisting $15.0m in cash and $5.0m in newly issued, unregistered ordinary shares.

A further $2.5m and $5.0m will be due on the first and second anniversaries of the closing, respectively. Group said the purchase would immediately expand its presence in the US and is expected to create immediate accretion to its fiscal 2022 earnings.

The operator intends will leverage RotoWire’s existing audience, content library, workforce, media partnerships and trust with US sports fans to further accelerate its business in the US online sports betting market.

Read the full story on iGB North America

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