ESE Entertainment Inc. (TSX-V:ESE) announced that it has completed its acquisition of GameAddik, a Canadian technology company focused on gaming and esports.
ESE said it expects the acquisition will strengthen its position in esports and gaming, adding GameAddik’s existing client base that includes some of the largest video game developers in the world.
“The completion of this acquisition signifies a new phase in the growth trajectory of ESE. By adding a new business unit with a proven history of strong financial performance, we are ready for rapid scale,” ESE Entertainment CEO Konrad Wasiela said in a statement.
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“We now have a significant physical presence in Montreal, Canada, that will accelerate our North American roll-out,” Wasiela added.
The company noted it anticipates the acquisition will deliver on its core strategic priorities of: increasing revenue and profitability; expanding its tier-1 client base; strengthening its technology stack; expanding its operational geography; adding experienced executives to ESE’s management and; increasing its platform scalability through unique and high-value business offerings.
It added that GameAddik generated unaudited revenue of C$24.0 million and income from operations of C$4.7 million in fiscal 2020.
ESE said GameAddik reaches 30 million qualified gaming users monthly through its publisher network, enabling the company to register over 300,000 new high-value players every month for its customers.
ESE Entertainment is a Europe-based entertainment and technology company focused on gaming and esports. The company provides a range of services to leading video game developers, publishers, and brands by providing technology, infrastructure, and fan engagement services internationally.
ESE also operates its own eCommerce channels, esports teams, and gaming leagues. In addition to the company’s organic growth opportunities, it is considering selective acquisitions that align with its objective of becoming a dominant global player in esports technology and infrastructure.
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