Digital sports media company Playmaker Capital has moved to bolster its position in the Latin American market by completing its acquisition of Brazilian digital media and marketing group Futmarketing.

Following the merger, the day-to-day operations of Futmarketing will be managed by Futbol Sites, a Playmaker subsidiary. Playmaker has emphasised that its new holding has ‘played a pivotal role’ in establishing Futbol Sites’ Bolavip brand as a football news and analysis source in Brazil.  

The Toronto-based company is hopeful that the acquisition Futmarketing will enable it to establish a strong foothold in the Brazilian sports betting market, which is set to go live later this year, as well as in the wider sporting sector. 

Previous mergers in the sports betting space saw Playmaker take control of digital media sports company Two-Up, a provider of technical solutions betting brands, such as BetGenius, Sky Bet and William Hill.

“We are delighted to welcome Futmarketing and its outstanding team to the Playmaker and Futbol Sites family,” said Federico Grinberg, CEO of Futbol Sites. 

“Futmarketing guarantees us high-quality standards in terms of editorial production and social media management, as well as an incremental reach that will further strengthen our position as the largest digital sports media group in terms of audience in Latin America.”

The total consideration for the transaction, which was first agreed on 27 December, stands at $4.1 million in exchange for a 100% stake in Futmarketing. This consists of a cash payment of $845,000 at closing, a deferred cash payment of $125,000 on the acquisition’s anniversary and a cash payment of $30,000 within 10 days after certain markets for digital markets are transferred to Playmaker. 

Additionally, the purchase also features $500,000 Playmaker common shares, which are priced on closing at CAD$0.70 and up to a maximum of US$2.6 million in the form of an earnout, which will be payable to Futemakreting upon the achievement of performance related targets between 1 December 2021 and 30 June 2024. 

By acquiring Futmarketing, Playmaker will take control of the company’s online network of 82 Facebook fan pages, 22 Facebook groups, 16 Instagram accounts and one Twitter account for a total of 31 million followers. 

Of particular interest to the TSV-listed multinational media group is Antenados no Futebol, a sports betting portal and digital platform specialising in Brazilian football content, as well as a partner network of 210 affiliates social media accounts with a following of 32 million.

Ibson Junior, CEO of Futmarketing, remarked: “I cannot say enough about how happy everyone at Futmarketing is to be joining Playmaker, and building on our partnership with Futbol Sites.

“We are flattered to become part of the Playmaker and Futbol Sites family and feel confident that there is no better place for us to be right now. We believe in Playmaker, its goals and its purpose, and our team will continue to elevate the Playmaker and Futbol Sites brand platforms to maximize audience reach.”