Sports betting and fantasy business Betsperts Media & Technology Group has completed the acquisition of Illinois-facing sports news website Bleacher Nation.
Financial terms of the deal were not disclosed, Betsperts said that the transaction would comprise cash plus equity.
Bleacher Nation provides news and content on major sports teams based in Chicago, Illinois, including the Chicago Cubs from Major League Baseball, the Chicago Bulls of the National Basketball Association and the Chicago Bears from the National Football League.
The acquisition marks Betsperts’ fourth major transaction to close in the last 18 months, following the closure of deals to purchase fantasy sports news platform Fantasy Life App, sports betting and fantasy football subscription service 4for4.com, and fantasy football analysis website Dynastyleaguefootball.com.
In addition, Betsperts closed on its first $3.0m for a Series A2 raise after previously raising $8.6m with investors such as Verance Capital, HBSE Ventures, Parlay Capital and Velo Partners.
Betsperts said its latest acquisition would increase its audience of unique users to more than 25 million, while its network of sites had in excess of 225 million pages view over the past 12 months.
“Bleacher Nation has built an incredible relationship with Chicago fans and sports fans all over the world,” Betsperts Group chief executive Reid Rooney said. “We look forward to continuing their impressive track record of growth by expanding their content coverage and adding additional resources to support the business.
“We will be profitable in 2023 which is exciting especially since we have continued to diversify our revenue streams monetizing through our subscriptions, affiliate partnerships, and advertising revenue. 2023 and 2024 will be exciting growth years for the business in revenue, profitability, and traffic.”