https://www.newsfilecorp.com/release/158368/Tiidal-Announces-Agreement-to-Sell-Sportsflare-to-Entain
Entain has agreed to purchase esports betting software developer Sportsflare from Tiidal Gaming, the company announced on Monday.
Contingent on Tiidal shareholder approval, Entain will purchase Sportsflare for a total of $13.25M.
Tiidal will hold a shareholder meeting on April 26, where directors, officers, and shareholders will vote on the transaction.
In connection with the deal, Tiidal has reached a loan agreement with Entain affiliate brand Ladbrokes Group Finance plc.
Sportsflare’s products include pre-match, in-play odds, and player proposition markets, as well as a recently launched flash bet offering. The company also holds a partnership with data provider Bayes Esports.
While it’s unclear exactly how Sportsflare will be leveraged within the Entain organization, the acquisition would deepen the company’s esports betting portfolio. Namely, this includes Unikrn, the sports betting platform Entain acquired for $60M in 2021 and relaunched more than a year later.