LONDON, UK: Mobile Streams plc has taken sole ownership of the LiveScores services that it had previously been operating under a revenue share agreement with Quanta Media Group.
LiveScores was developed by Tim Scoffham in association with Quanta with its first launch in Mexico as per the MOS announcement of 26 July 2021.
MOS has agreed to acquire LiveScores and cancel the revenue share agreement with Quanta, thereby removing any revenue share and giving MOS total control of not only the services previously announced but also the underlying platform engine, domains and IP that support LiveScores.
LiveScores has subsequently launched in Argentina and Brazil. The Company is also pleased to announce four B2B contracts to deliver its LiveScores services platform in various territories including Italy, India, Turkey and Africa.
The consideration for the acquisition is £125,000 to be paid in shares, which are subject to a minimum 12 month lockup, and up to £75,000 in shares in three equal further tranches based on revenue derived from specific existing contracts over the next 12 months.
Additionally, the Company is delighted to announce the appointment of Tim Scoffham to lead the global LiveScores business and develop additional opportunities for the Company.
Tim has spent much of his career in mobile marketing, content creation and affiliation, with emphasis in frontier territories of LATAM, Africa and Asia. Working directly with many telecom carriers around the World, Tim has provided strategies for clients to help better monetise mass audiences through content distribution and engagement.
Under the Share Purchase Agreement between the Company and Tim Scoffham, the initial consideration of £125,000 is to be paid in shares, to be issued at a price of 0.423 pence per share being the VWAP per share for the three months to 9 February 2022. Additional consideration of up to £75,000 may be payable in shares at the Issue Price. All Consideration Shares will be subject to a 12 month lock-in and further 12 month orderly market arrangement.
Tim Scoffham said: “I am delighted to be joining Mobile Streams to lead the global LiveScores business and help grow the wider business. I think there are enormous opportunities for MOS. The company is in an amazing position and I look ford to helping them accelerate their already impressive growth.”
Mark Epstein, CEO Mobile Streams, said: “We are extremely pleased to have someone’s with Tim’s ability on board. He has great experience in the I-gaming sector and I look forward to us working together. His significant abilities will be a big help as we continue growing around the world and expanding our offering.”