XLMedia PLC (AIM:XLM) acquired CBWG Sports from CB Sports LLC, Warwick Gaming LLC and CBWG Media Group LLC for $25.1 million on December 9, 2020. Under the terms of the definitive documents for the acquisition, XLMedia will pay upfront consideration of $12 million in cash and issue 7.95 million new XLMedia plc shares, as well as potential future contingent consideration of up to an additional $9.5 million, based on net revenue performance of the acquired business, payable over three years to the end of 2023. Over the trailing 12 months, ending October 2020, CBWG Sports reported unaudited Revenue and EBITDA, before founders' compensation of approximately $4.6 million and approximately $2.7 million respectively. Following the transaction, CBWG Sports team, including the founders, Kyle Scott and Jason Ziernicki will be retained. As part of the deal, founders Kyle Scott and Jason Ziernicki will stay on in newly created roles that will leverage their background expertise and market experience in U.S. Sports. Giles Balleny and Max Gould of Cenkos Securities plc (AIM:CNKS) acted as nominated advisors and joint brokers to XLMedia PLC. XLMedia PLC (AIM:XLM) completed the acquisition of CBWG Sports from CB Sports LLC, Warwick Gaming LLC and CBWG Media Group LLC on December 9, 2020.