Playmaker acquires 100% of Brazil’s Futmarketing for $4.1m
Toronto-based company to make initial cash payment of $845,000 with deferred payment to be made on the second anniversary
Toronto-based digital sports media company Playmaker has announced the acquisition of Brazilian digital media and marketing group Futmarketing which also provides editorial consultancy to soccer platforms across Latin America. Playmaker subsidiary Futbol Sites will manage the day-to-day operations with Futmarketing.
The terms of the acquisition are reported to include a cash payment of $845,000 (£623,000) at closing and a deferred cash payment of $125,000 on the second anniversary of closing as well as a cash payment of $30,000 within 10 days after certain marks for digital assets are transferred to Playmaker.
Futmarketing has played a prominent role in Brazil’s sports media market for the last five years through a vast array of social media channels and was also instrumental in establishing the Futbol Sites brand as a key source for soccer news and analysis in Brazil.
Futmarketing currently operates 82 Facebook fan pages, 22 Facebook groups, 16 Instagram accounts and one Twitter account with an aggregate of over 31 million followers. With online sports betting planned to go live in 2022, this will undoubtedly strengthen Playmaker’s positioning in Brazil.
“We are delighted to welcome Futmarketing and its outstanding team to the Playmaker and Futbol Sites family,” commented 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.”
Ibson Junior, CEO of Futmarketing, added: “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 maximise audience reach.”