Esports Entertainment finalises Helix eSports and ggCircuit acquisitions
First announced in October 2020, the agreement will see the Esports Entertainment Group pay $43.0m (£31.4m/€35.4m) to acquire the two businesses, with this to be split as 50% cash and 50% shares in Esports Entertainment.
The transaction is expected to close during the second quarter of 2021.
“With the acquisition of Helix and ggCircuit, we have created the most diversified US-listed esports entertainment asset in the entire ecosystem,” Esports Entertainment chief executive Grant Johnson said.
ggCircuit is a B2B software provider that supplies cloud-based management for LAN centres, a tournament platform and integrated wallet and point-of-sale solutions for enterprise customers.
Helix eSports owns five esports centres and also operates Genji Analytics, an analytics provider in the esports sector.
The Helix eSports acquisition also includes LANduel, Helix’s proprietary player-vs-player wagering platform, which allows for skill-based wagering on third-party video games.
“These acquisitions significantly strengthen our play, watch, bet Ssrategy, adding state-of-the-art esports entertainment centres, an esports-focused vertical enterprise software business, a best-in-class esports analytics platform, and a player-vs-player skill-based wagering platform to our diversified asset base,” Johnson said.
“Together with what we’ve already built, Esports Entertainment Group has unparalleled scale and we are on our way to becoming a global industry leader.”
The deal comes after Esports Entertainment last week also completed its acquisition of esports events organiser Esports Gaming League (EGL).