Largest Change of Control Transaction in Esports History
Largest Change of Control Transaction in Esports History Creates Team Operator with Largest Esports Audience in the World LOS ANGELES--(BUSINESS WIRE)-- Immortals Gaming Club (IGC) announced today the acquisition of Infinite Esports & Entertainment, the parent company of OpTic Gaming. The transaction, the largest change of control transaction in esports history, values Infinite at more than $100 million in enterprise value. On a pro forma basis, the transaction makes IGC one of the world’s largest esports organizations, boasting four distinct and elite brands (Immortals, OpTic, MIBR and LA Valiant) and a presence in both franchised esports leagues (League of Legends Championship Series and the Overwatch League). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190612005447/en/ The transaction follows IGC’s $30 million Series B fundraise as well as its acquisition of Brazilian matchmaking platform, Gamers Club. The announcement advances the company’s vision to be the world’s largest, vertically integrated esports and gaming company with a total reach now exceeding 35 million people across all platforms. “Today, we announced a transformative transaction for our organization and a landmark transaction for our industry. Across our family of brands, OpTic; MIBR; LA Valiant; and Immortals, IGC’s total audience size is nearly three times larger than our nearest competitors,” said Ari Segal, IGC’s Chief Executive Officer. “At the same time, our multi-brand strategy enables us to tailor content, messaging, voice, and experience for distinct communities and audience segments, driving deeper engagement and affinity. Armed with these brands, the best fans in esports, the legacy and tradition of great teams and players, and a newly reinforced and strong balance sheet, IGC is positioned to be a market leader and model organization.” Current Infinite investors including Neil Leibman and Ray Davis, co-owners of the Texas Rangers, will become shareholders in IGC.
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