The sports-first live TV streaming platform fuboTV has closed its acquisition of France’s Molotov.
The acquisition, announced on November 9, was previously expected to close in the first quarter of 2022.
In a statement, fuboTV notes that the Molotov streaming platform was designed to be easily localised for new markets and languages, facilitating efficient launches in additional countries as fuboTV considers expanding its global footprint and launching its interactive sports and entertainment streaming platform on a global scale.
It adds that Molotov will continue to be based in Paris and led by JeanDavid Blanc who has been named president and will report directly to David Gandler, fuboTV’s co-founder and CEO. Molotov’s approximately 100 employees will remain with the company and fuboTV plans to further expand the product and engineering team in Paris.
Commenting on the acquisition, Gandler said: “With today’s closing, fuboTV has acquired a very talented team and an innovative tech stack that can help accelerate our development in the U.S. with a judicious deployment of minimal incremental investment dollars. At the same time, this combination will provide technology to grow Molotov’s business model. Over the long term, we believe the synergies of the combined company will give us operating leverage to build a scalable global platform as we continue on our mission to deliver the world’s leading interactive sports and entertainment live TV experience”.
FuboTV currently operates in the US and Canada and was the first U.S. virtual MVPD to enter Europe with its 2018 launch in Spain.
Meanwhile, Molotov operates in France, Burkina Faso, Ivory Coast, Senegal and Cameroon and expects to launch soon in the Democratic Republic of Congo. The company also operates in Morocco through a partnership with Maroc Telecom.