SharpLink Gaming, an advanced technology pioneer at the forefront of the fast-emerging American sports betting industry, has purchased assets from FourCubed – a collaboration between SharpLink Management LLC and 6t4 Company.
Details of the Deal
The total worth of assets that SharpLink Gaming has purchased sits at around $8.2 million. SharpLink will $6.5 million of that total price in cash and will cover the rest with nearly 600,000 restricted ordinary SharpLink shares. Depending on how the purchased assets perform on the market, SharpLink may pay yet another 600,000 shares to FourCubed.
Through the share purchase, SharpLink Gaming will acquire FourCubed’s iGaming and affiliate marketing network – a solution that excels in improving online traffic, engaging players, as well as acquiring, retaining, and converting new players.
Following the deal, Chris Carlson, the founder of FourCubed, will become the vice president of conversion at SharpLink. He spoke on the deal, revealing that both companies share a vision. Through the unification of their strengths and spheres of influence in the industry, Carlson believes that the companies are well-poised for growing even further in the foreseeable future. Carlson added:
“With the iGaming and sports betting markets beginning to gain notable momentum in the US, we couldn’t be more excited about the opportunity to help ensure SharpLink wins industry dominance as the preferred partner to media operators, leagues and sportsbooks seeking to optimize player engagement and customer lifetime value of sports fans converted to sports bettors.”
FourCubed founder Chris Carlson
FourCubed was founded in 2005. Since then, it has grown to have over 12,000 sub-affiliates and has delivered more than 1.8 million referred players since 2008. The company has an estimated annual income of $5.5 million, most of which comes from its strategic deals with some of the best gambling operators out there.
SharpLink is Excited to Implement FourCubed’s Solutions
Rob Phythian, the chief executive officer of SharpLink, also spoke on the acquisition.
“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 said.
Phythian said that FourCubed is a reliable partner that has proven to form “sticky relationships” with its customers thanks to its high-tech solutions and clever player conversion methodologies.
He reminded of SharpLink’s standings, revealing that it has over 2.5 million players who engage with its fantasy and sports games platforms through the company’s network sites, as well as its sports league and media partnership sites. Phythian believes that the acquisition of FourCubed assets will help SharpLink distinguish itself. The CEO is sure that FourCubed’s approach will be easily adapted to suit SharpLink’s platform, which will “unleash extraordinary value.”
The last few months saw SharpLink sign some key industry deals with various sports organizations. In September, the company collaborated with the Minnesota Vikings NFL franchise and NBC Sports for various fantasy games.