PLAYMAKER ANNOUNCES ACQUISITION OF LEADING BRAZILIAN DIGITAL MEDIA AND MARKETING GROUP FUTMARKETING
Futmarketing Bolsters Soccer-Related Editorial Content Across Playmaker and Supercharges Audience Growth In Key Market; Immediately Adds Over 60 Million Social Media Followers
Playmaker Capital Inc. (TSXV: PMKR; OTCQX: PMKRF) (“Playmaker”), the digital sports media company that delivers authentic content experiences through its portfolio of sports media and technology brands, announced today the expansion of its media ecosystem with the acquisition of Futmarketing, a top digital media and marketing group in Brazil and a trusted editorial consultant to soccer platforms throughout Latin America. Playmaker subsidiary, Futbol Sites, will manage the day-to-day operations of Futmarketing.
Futmarketing has been a leader in Brazil’s digital sports media market for more than five years through a portfolio of social media channels as well as web property, Antenados no Futebol. Moreover, Futmarketing has played a pivotal role in establishing Futbol Sites brand, Bolavip, as the go-to source for soccer news and analysis in Brazil. Futmarketing will significantly strengthen Playmaker’s competitive positioning in Brazil, an important market for growth as online sports betting is planned to go live in the region in 2022.
Futmarketing currently operates 82 Facebook fan pages, 22 Facebook groups, 16 Instagram accounts, and one Twitter account that in aggregate attract more than 31 million followers. Among the standout digital platforms is Antenados no Futebol, a wholly-owned Brazilian sports news portal that specializes in Brazilian soccer content. The company also has a partner network of 210 affiliated social media accounts that reach an additional 32 million followers.
“We are delighted to welcome Futmarketing and its outstanding team to the Playmaker and Futbol Sites family,” commented Federico Grinberg, CEO of Futbol Sites, a Playmaker brand. “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.”
“I cannot say enough about how happy everyone at Futmarketing is to be joining Playmaker, and building on our partnership with Futbol Sites,” commented Ibson Junior, CEO of Futmarketing. “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.”
TRANSACTION DETAILS
Pursuant to the terms of a purchase agreement dated December 27, 2021, Playmaker acquired 100% of Futmarketing for aggregate consideration of US$4.1 million. The purchase price consideration consisted of (i) a cash payment of US$845,000 at closing and a deferred cash payment of US$125,000 on the second anniversary of closing, (ii) a cash payment of US$30,000 within 10 days after certain marks for digital assets are transferred to Playmaker, (iii) the issuance of US$500,000 of Playmaker common shares (the “Playmaker Shares”) on closing, priced at CAD$0.70 per Playmaker Share and (iv) up to a maximum of US$2.6 million in the form of an earn-out, payable to the sellers upon Futmarketing achieving certain performance related targets over the period beginning on December 1, 2021 and ending on June 30, 2024.
