Turnkey solutions provider Oryx Gaming is to be acquired by Breaking Data Corp in a €7.5m deal, as the firm plans a strategic transition into the betting and gaming markets.
The owners of sports news platform GIVEMESPORT are to pay on initial €1.5m on the signing of the share and purchase agreement, with a further €4.125m upon closing of the transaction.
Set to rename Oryx Bragg Gaming Group upon completion of the transaction, plans are in place to leverage the GIVEMESPORT 26m strong Facebook fan base as the firm makes its move into gaming
Nick Thain, who co-founded the UK digital media company in 2004 and currently serves as CEO of Breaking Data, stated: “We are pleased to have reached an agreement with Oryx Gaming that will see the beginning of our transition into the highly lucrative gaming and sports betting markets.
“This transaction marks an important milestone in our strategic transition into becoming a next generation gaming company.”
Fresh appointments upon closing of the deal are also to be made, with ex-Health Lottery chief executive and FullTilt Poker managing director Dominic Mansour becoming new chief executive, and former chief financial officer of NetPlay TV plc Akshay Kumar set to occupy a similar role.
Detailing the purchase further still, and highlighting plans to capitalise on the repeal of PASPA in the US a little over three month ago, Mansour commented: “The acquisition of Oryx is the first step on the road to the creation of a new global gaming group. We plan to follow this with other acquisitions in the gaming sector, as we position Bragg Gaming as a next generation gaming company.
“The newly combined group will now have the opportunity to grow into gaming, and to leverage synergies through the combination of the businesses.
“GIVEMESPORT has a bigger following on Facebook than ESPN and Sky Sports and we plan to use this as a platform to grow into sports betting, initially in the UK, and further into the US, as it regulates following the decision in May 2018 by the United States Supreme Court to strike down, as an unconstitutional exercise of federal power, the nearly 30-year ban on sports betting under the Professional and Amateur Sports Protection Act, or PASPA.”
Breaking Data also revealed plans to launch GIVEMEBET, a new online sports betting brand that is to be built in the mould of the Sky Betting and Gaming, with further details set to follow.
