2nd Mar 2015 07:44
LONDON (Alliance News) - GAME Digital PLC Monday said it has bought Multiplay (UK) Ltd, a community-based games company focused on live events, online gaming services and eSports, for GBP20 million in total, a deal that launches it into the fast-growing live events gaming market.
GAME said it will pay GBP12.6 million in cash on completion and GBP7.4 million in deferred cash and shares over the next three years.
Multiplay was established in 1997 and has organised over 150 gaming events in the UK and internationally, including its flagship "Insomnia" festival, the largest of its kind in the UK. The company also provides online multiplayer gaming services to PC gamers. Its clients include Mojang, Nexon, Electronic Arts, Ubisoft, DICE, Jagex Studios and more, according to GAME.
"The acquisition of Multiplay is an exciting and strategically important step for GAME. The world of live events, eSports and multiplayer gaming is growing rapidly and one we have been looking to enter for some time," GAME Chief Executive Martyn Gibbs said in a statement.
Multiplay's CEO and Founder, Craig Fletcher, will continue to lead the business, "ensuring continuity of relationships, content and strategy". He'll report directly to Gibbs.
By Steve McGrath; [email protected]; @stevemcgrath1
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