The affiliate giant Better Collective had initially agreed to acquire Playmaker Capital in November for a substantial €176 million (£150 million/$190 million), with the anticipated completion set for Q1 2024.
The acquisition required approval from various entities, including the minister of Canadian heritage and the Ontario Superior Court. Playmaker Capital has confirmed that all necessary conditions have been met, paving the way for the deal to proceed as scheduled. Last week, Playmaker shareholders overwhelmingly voted in favor of the acquisition.
With all approvals secured, Better Collective and Playmaker anticipate the finalization of the deal on February 6. Upon the announcement of the acquisition in November, Better Collective expressed its anticipation of becoming the market leader in South America through the collaboration. The company highlighted that the merger would fortify its position in North America and yield benefits from enhanced scale, along with increased investments in product, technology, and marketing.
Playmaker Capital, listed on both the TSX Venture Exchange in Canada and the OTCQX in the US, boasts media brands such as Futbolsites.net, Yardbarker, and The Nation Network among its assets. As part of the acquisition, Better Collective is set to take ownership of these prominent brands.