B2B Daily Fantasy Sports Acquisition Targets Growth In Europe

Daily fantasy sports service provider Mondogoal has been acquired by Global Daily Fantasy Sports, Inc. in a purchase that includes all of Mondogoal's intellectual property and client contracts. In exchange, Mondogoal receives a combination of cash on closing plus common shares of Global Daily Fantasy Sports, Inc. on an earn-out basis annually over the next three years.

Global Daily Fantasy Sports, Inc. calls itself the first true business-to-business global daily fantasy sports network -- dissimilar to FanDuel and DraftKings -- that offers a turn-key solution for sportsbook operators, land-based operators, media groups and big database companies to participate in the daily fantasy sports industry. In August 2016, it announced the closing of a $6 million private placement, issuing 15 million units at a price of $0.40 per unit. That capital was likely instrumental in closing a deal with Mondogoal.