DraftKings acquires Israeli gamification co BlueRibbon

Mergers and acquisitions Photo: To Go

The US sports betting company will integrate and expand BlueRibbon's Tel Aviv office.

US sports betting company DraftKings Inc. (Nasdaq: DKNG) today announced that it has acquired Israeli global jackpot and gamification company Blue Ribbon Software Ltd.. Tel Aviv-based Blue Ribbon provides platform-agnostic, real-time gamification tools that allow for fully customizable jackpot promotions. No financial details about the deal were disclosed.

BlueRibbon was founded in 2017 by CEO Amir Askarov and CMO Dan Fischer. DraftKings says that BlueRibbon’s development of jackpot technology can be applied to any vertical, game or content so that customers are able to enjoy a seamless experience as they play the jackpots, offering a new layer of excitement and anticipation during gameplay.

DraftKings says that it intends to fully integrate BlueRibbon’s leadership and employees in Israel into its global workforce and that it will increase hiring in its Tel Aviv office.

DraftKings says it will be able to enhance the customer experience by integrating BlueRibbon’s unique jackpot functionality, including personalized promotions and rewards tailored to the individual customer or jackpots that pay out across DraftKings’ various product offerings.

Askarov said, "We created BlueRibbon to give companies the ability to differentiate themselves within the highly competitive sports betting and iGaming industries with unique and innovative marketing platform. Joining DraftKings will allow us to continue to build our platform to enhance the player experience and to strengthen our Tel Aviv-based team."

DraftKings cofounder and president Paul Liberman said, "Integrating BlueRibbon’s proprietary, proven technology will enable DraftKings to create dynamic incentives for our users as they engage with our products. The team at BlueRibbon brings technical and gamification expertise and broad industry experience to DraftKings, and we are excited to leverage this technology to further differentiate our product offerings and engage customers in new ways."

Published by Globes, Israel business news - en.globes.co.il - on April 5, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Mergers and acquisitions Photo: To Go
Mergers and acquisitions Photo: To Go
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