- GameOn (GET) has completed its acquisition of FanClash, a gameplay tech developer
- FanClash uses proprietary real-time fantasy technology to create gameplay around live events
- The company will pay up to C$1M for the acquisition
- It expects FanClash to solidify its presence in the fantasy sports and entertainment market
- GameOn Entertainment, a Victory Square (VST) portfolio company, provides media, entertainment and sports companies with innovative white-label game technologies
- GameOn (GET) is unchanged trading at $0.18 per share
GameOn (GET) has completed its acquisition of FanClash, a gameplay tech developer.
FanClash uses proprietary real-time fantasy technology to create gameplay around live events. The technology was created by the team behind the hit app, UFL, which boasted 1.6 million users and 14 million gameplays while being featured as the no. 1 sports app in 24 countries.
GameOn paid C$500,000 in cash and shares as initial consideration. It will pay an additional $500,000 in shares upon the achievement of certain performance milestones.
The company expects FanClash to solidify its presence in the fantasy sports and entertainment market. It plans to white label the technology to broadcasters, TV networks, streaming platforms, leagues, tournaments, sportsbooks and NFT projects, as well as expand it to reality TV, news and elections.
It purchased the asset from London-based Inplay Labs.
“The acquisition of FanClash strengthens our tech stack and provides us with an opportunity to broaden our market footprint as we enter the flourishing fantasy sports industry,” said Matt Bailey, GameOn’s CEO. “Given the inherent similarities of our companies to maximize fan engagement, the implementation of FanClash’s technology will be complementary and synergistic to our core business.”
“We have already commenced go-to-market efforts and are encouragingly receiving initial traction from customers, which we are confident will lead to imminent executed deals,” he added.
GameOn Entertainment, a Victory Square (VST) portfolio company, provides media, entertainment and sports companies with innovative white-label game technologies.
GameOn (GET) is unchanged trading at $0.18 per share as of 2:15 pm EST.
