Esports Entertainment Group seals double acquisition
Malta-based operator continues to expand ecosystem with addition of B2B supplier and venue management business
Esports Entertainment Group (EEG) has purchased two new additional properties in a combined deal worth around $43m as its M&A charge continues.
The Malta-based operator has acquired ggCircuit and Helix Esports to follow up on purchase agreements for FLIP Sports and Esports Gaming League this summer.
GgCircuit is a B2B software company that provides management services for LAN esports tournaments and point-of-sale solutions.
It currently operates in more than 1,000 connected locations and its ggLeap management product has over 60 million hours of usage by more than two million gamers across the world.
Helix Esports owns five esports centres, including two of the five largest in the US, as well as two subsidiaries which EEG will now take ownership of.
The first is Genji Analytics, an esports analysis solution which supports data-driven business decisions via its broadcast and talent scouting analytics.
The second is Helix’s proprietary player versus player wagering platform LANduel.
Grant Johnson, EEG CEO, said: “With the acquisition of Helix and ggCircuit, we have created the most diversified, US-listed esports entertainment asset in the entire ecosystem.
“Together with what we’ve already built and further near-term acquisition opportunities, EEG is well on its way to becoming a global industry leader,” he added.
Zack Johnson, ggCircuit founder, said: “With our combined state-of-the-art platform and resources, I am confident that we will rapidly scale growth in the quarters ahead.”
Murphy Vandervelde, Helix Esports founder, added: “With growing mass market appeal and a wealth of untapped opportunities, I am eager for Helix to become part of EEG, where we can capitalise on the significant macro trends that will help catapult us to global leadership in this dynamic industry.”