img Arena Bolsters Portfolio With Acquisition
London-based sports data business IMG ARENA has announced the acquisition of Leap Gaming (Leap), a virtual sports and casino games provider.
The closing of the transaction is expected in the first half of 2023, with the new investment set to enhance IMG ARENA’s sports betting content portfolio.
The deal builds on IMG ARENA and Leap’s existing partnership that has worked to ‘officialise’ virtual sports with the addition of official logos, team names, venues and other branded assets.
Through this partnership, IMG ARENA and Leap have already launched official virtual sports betting products with NASCAR and EuroLeague.
Established in 2014 and based in Nevis, with offices in Israel, Malta and Ukraine, Leap Gaming works with 120 sportsbook operators around the globe. Leap CEO Yariv Lissauer will become Senior Director & General Manager – iGaming, IMG ARENA and his 58-strong team will join IMG ARENA.
The deal has been agreed based on an enterprise valuation of €14m (£12m), which is calculated to result in an equity value for Leap of roughly €12.9m (£11.2m).
Freddie Longe, President, IMG ARENA, said, “When we invested in Leap Gaming in 2018, our aim was to create official products and unlock new revenue streams and forms of fan engagement for our clients. We are delighted to extend that partnership and officially welcome Leap into the IMG ARENA team.
“The acquisition will enable us to build on the work we have already done with Leap to take the virtual sports experience to new levels and continue to enhance our sports betting content portfolio.”
Yariv Lissauer, CEO, Leap Gaming, added, “Leap joining the IMG ARENA business is a natural union born out of synergies in product, customer base and, most importantly, culture and vision. This will enable us to leverage our knowledge, strengths and resources to deliver an enhanced range of best-in-class virtual sports products.”
IMG ARENA delivers live streaming and data feeds for more than 45,000 sports events annually, as well as for on-demand virtual sports products and front-end solutions including the UFC Event Centre. IMG ARENA’s clients include the ATP, UFC, DP World Tour, PGA Tour, MLS and the FA.
