eSports business Gfinity Plc (LON:GFIN) is to take its flagship gaming tournament to the other side of the world after a successful debut here in London.
Australia will be the second territory to host the Elite Series, which launched in the UK at the end of last month, after the AIM-quoted group inked a joint venture agreement with HT&E Ltd (ASX:HT1) and IKON Media & Entertainment.
First license agreement, more to come
Gfinity has agreed to license its proprietary format and brand as well as the technology that underpins it to the new JV, Gfinity Esports Australia, for an initial five-year period.
In return, Gfinity will receive an annual license fee while it will also take 30% stake in Gfinity Esports Australia.
The agreement is the first license of the Elite Series format and technology outside of the UK but Gfinity hopes, and expects, there to be more going forward.
The strategy is to keep working with “major partners in multiple geographies” as the leading format for professional eSports competitions around the world.
Mirror of the UK format
The Australian version of the tournament will mirror the format of the current competition in the UK, with professional eSports teams going head-to-head over several weekends.
Coverage of the weekly events will be broadcast on live online and across other TV and media platforms to an estimated 2.2mln Australian eSports fans.
“Following Elite Series' immense popularity in the UK, we're excited to bring it to Australia where HT&E's expertise and extensive knowledge in the Australian market will be invaluable as we aim to build the most engaging and dynamic eSports offering in Australia,” said Gfinity chief executive Neville Upton.
HT&E boss Ciaran Davis added: “The global eSports market has seen substantial growth in recent years, and we're really excited to be entering this space with an established, world leading eSports company, Gfinity.”