IMG ARENA said it had agreed to buy Leap Gaming to boost its sportsbetting content, building on an existing relationship.?

IMG said the acquisition of the virtual sports and casino games provider is expected to close next year. It gave no financial details.?

The acquisition builds on a partnership dating from a 2018 investment by IMG into Leap, which works with 120 sports book operators around the globe.?

Freddie Longe, President, IMG ARENA, said: “When we invested in Leap Gaming in 2018, our aim was to create official products and unlock new revenue streams and forms of fan engagement for our clients. We are delighted to extend that partnership and officially welcome Leap into the IMG ARENA team.

“The acquisition will enable us to build on the work we have already done with Leap to take the virtual sports experience to new levels and continue to enhance our sports betting content portfolio.”

Following the acquisition, Leap Gaming CEO Yariv Lissauer will become senior director and general manager – iGaming. His 58-strong team will also join IMG ARENA.

IMG is a provider of live streaming and data feeds for more than 45,000 sports events annually, as well as on-demand virtual sports products.?

Leap Gaming was established in 2014, and has offices in Israel, Malta and Ukraine.?

Despite volatile market conditions and rising interest rates, the gambling industry has seen a steady pipeline of M&A activity as those with strong balance sheets continue to plug gaps in their product offering.

Just this month, Real Luck Gaming announced the acquisition? of an Asia-facing platform, while Playtika said it would invest $25 million in Turkey’s Ace Games.

?