M&A

Greentube enters esports market with Hero acquisition

2 minutes read
Greentube, the interactive arm of Novomatic Group, is to expand into the esports market for the first time after it completed the acquisition of esports betting provider and blockchain pioneer HERO.

Austria-based Hero operates herosphere.gg, a blockchain-powered esports platform that allows players to create their own contests and compete against others on the outcome of esports games.

The platform, which has a user base of over 300,000 players, uses the supplier’s Herocoin proprietary virtual token as its primary form of currency.

In addition to esports, the Hero network can be used for any kind of pooling, betting, fantasy or poker systems.

“At Greentube, we aim to hold a leading position when it comes to adopting new trends and technology, and with Hero’s unique products, we have acquired an innovative and exciting business that will see us move into uncharted territory,” Greentube chief financial officer Michael Bauer said.

“The esports and blockchain space offers a lot of possibility for the gaming sector and will open up new doors for us as a company.”

Hero chief executive Paul Polterauer added: “Our objective has always been to change the nature of online betting and bring innovation and new technology into the sector by offering something completely different.

“Being acquired by such a renowned company as Greentube is a huge testament to the hard work we have put into developing and evolving our products. Together with Greentube, we will be able to reach new heights.”

The acquisition comes after Greentube in December announced plans to hire more than 100 new employees at its offices in Austria, Malta and Slovakia as part of its wider commercial expansion strategy.

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