Esports wagering systems provider Ultraplay is set to significantly expand its existing relationship with operator XB Systems after entering an agreement to merge its lead B2C white label property BUFF.bet with X-Bet.co.
For the past three years, Ultraplay has served as XB Systems main platform provider for X-Bet.co, establishing a brand that has become Ultraplay’s biggest network partner.
In its deal statement, Ultraplay management reveals that its agreement with XB Systems will represent the ‘next step for BUFF.bet‘ which will now operate as a standalone esports wagering brand.
Moving forward, BUFF.bet operations will be merged with XB Systems, who will take over the day-to-day management of the domain. Ultraplay, meanwhile, will maintain its position as lead technology systems provider. XB Systems also confirmed that BUFF.bet will be retained as the lead brand, absorbing X-Bet.co’s customer base.
Mario Ovcharov, CEO of UltraPlay, commented: “We believe that X-Bet.co and BUFF.bet will form a great synergy together. With the two sites joined forces and the experienced management team of XB Systems firmly in place, BUFF.bet will undoubtedly go from strength to strength becoming one of the leading esports betting operators worldwide.”
Following the integration of BUFF.bet assets, XB Systems confirmed that it will review options on a future company IPO, assisted by Swiss venture capital firm Razor Consulting GMBH.
Seeking to expand its capital structures in 2020, XB Systems has appointed London-based ‘boutique investment fund’ JP Capital to act as lead financial advisor for the firm’s intended IPO.
“The merger is an absolute recipe for success and a win-win situation for everyone. Under the BUFF.bet brand we are targeting a major slice of the global esports market,” said Daniel Miller, CEO of XB Systems.
He added: “With our unique proposition of media portal and eSports betting site powered by UltraPlay’s data and betting solutions, we are certain that our market share will grow massively over the next 24 months.”