FuboTV, the US-based live TV streaming platform provider focused primarily on sports, has agreed to acquire French TV streaming and video-on-demand advertising company Molotov for approximately $190 million (roughly €165 million) in a combination of cash and equity.
According to the official release, the stock part will land around "at least 85%" of the sum.
The listed American company pitches the acquisition of Molotov, which has as around 4 million active monthly users, as an important step towards expansion into new markets. The deal is expected to enable the buyer to launch its interactive sports and entertainment streaming platform on a global scale.
Molotov will continue to be based in Paris and led by its co-founder, serial entrepreneur Jean-David Blanc. The company's 100-or-so employees will be retained by fuboTV, at least for the time being.
"Molotov has set the benchmark for ad-supported and subscription streaming platforms in Europe," said David Gandler, co-founder and CEO, fuboTV. "We believe this strategic asset will help accelerate our goal of achieving global scale and operating leverage as we continue to improve and innovate on our live, interactive streaming TV experience for sports fans and their families."