Shares of esports solutions provider Gfinity (LON: GFIN) are rising after the company announced its partnership with the global advertising technology platform, Venatus, will be extended.
The new agreement will see Venatus continue to monetise Gfinity’s web platforms and include most of its fast-growing sites.
Gfinity said that the agreement is the “latest in a series of strategic partnerships under Gfinity's publishing platform, Gfinity Digital Media (GDM), which is on track to deliver revenues of £2 million in FY21.”
GDM was formed in May 2020 and delivered £1 million in revenue in the first half of the financial year 2021.
Venatus will continue to support the monetisation of new websites in GDM’s network through advertising space and connecting publishers and brands with gamers and esports enthusiasts. The partnership will also see further collaboration on sales, bespoke content and several innovative new products.
“We are delighted to announce the expansion of our relationship with Venatus to drive engagement across some of our fast-growing websites. GDM continues to deliver against our key strategic pillar of “what we own”, collaborating with some of the most innovative names in the digital gaming space, sharing expertise and technology to cross-sell to an ever-growing community of gamers,” said John Clarke, Gfinity’s CEO.
Gfinity's share price rose over 7% to 4.50p following the news.
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