Entain to acquire sports media business 365scores for up to $160m
Entain has agreed to buy sports media business 365scores for $150m (£120m) with potential contingent payments of up to $10m (£8m).
365scores provides sports information, editorial and social content, as well as free-to-play games.The company has a rapidly growing audience of over 15 million active users and is ranked in the top five sports score apps globally, according to 2022 rankings by Data.ai.
The 365scores platform collects personalised and relevant sports data from news sources in real-time, enabling sports fans to create their own sports channel and receive live news and notifications.
It supports 10 sporting categories in 20 languages and has around 80 employees.According to information published on Pitchbook, 365scores was founded in 2008 and is headquartered in Hong Kong.
Testing new formatsEntain stated the acquisition would provide its customers with a wider range of interactive content and experiences by combining 365scores’ expertise in data-driven sports media content with Entain’s global scale and leading platform capabilities.
“The acquisition unlocks further growth opportunities and supports our global strategic ambitions,” Entain said in statement.
When presenting the group’s 2022 results, CEO Jette Nygaard-Andersen had confirmed that M&A would continue to be a key component of Entain’s growth strategy.
She had added that the company aims to “continue to test, learn and experiment with new formats”, including multiplayer free-to-play and live game shows, as well as partnering with leading household entertainment names.