GeoComply, a Vancouver cybersecurity company that specializes in geolocation and identify verification, is getting into the online sports betting space by acquiring a 40 per cent share of Betting Hero, the American subsidiary of a Vancouver online sports betting company.
GeoComply Solutions and The Hero Group Corp. announced in a press release an arrangement in which they will acquire FansUS – a subsidiary of Vancouver’s FansUnite Entertainment Inc. (TSX:FANS, OTCQB:FUNFF) for US$37.5 million.
FansUS carries on the business Betting Hero in the U.S.
Under the agreement, The Hero Group will be controlled 60 per by Betting Hero co-founders Jai Maw and Jeremy Jakary and 40 per cent by GeoComply.
Not to be confused with the Swiss food manufacturer, th Hero Group will be a new entity.
GeoComply is a Vancouver cybersecurity firm that specializes in detecting whether online users of streaming services or online gambling websites are trying to mask their locations using means such as virtual private networks (VPN).
“Jai and Jeremy have built a tremendous business with a laser-like vision to support their customers’ mission for the best possible user experience through the sign-up process,” said GeoComply CEO Anna Sainsbury.
“At GeoComply we share that vision and are delighted, through this intended investment, to help Betting Hero further their efforts and deploy more resources and focus into serving our customers and their patrons throughout North America.”
