Esports Entertainment Group to acquire ggCircuit and Helix eSports
28 October 2020
Online eSports tournament and gaming company Esports Entertainment Group entered into an agreement to acquire B2B software company ggCircuit LLC that provides cloud-based management for LAN a tournament platform, and integrated wallet/point-of-sale solutions for enterprise customers and Helix eSports LLC, which owns five eSports centers, LANduel and Genji Analytics in a deal valued at approximately $43 million.
"With the acquisition of Helix and ggCircuit, we have created the most diversified, US-listed eSports entertainment asset in the entire ecosystem,” stated Grant Johnson, CEO of Esports Entertainment Group. “These acquisitions significantly strengthen our Three Pillar Strategy, adding state-of-the-art eSports entertainment centers, an eSports-focused vertical enterprise software business, a best-in-class eSports analytics platform, and a player-vs-player skill-based wagering platform to our diversified asset base. Together with what we’ve already built and further near-term acquisition opportunities, Esports Entertainment Group is well on its way to becoming a global industry leader.”
“We are excited to join forces with Esports Entertainment Group! With our combined state-of-the-art platform and resources, I am confident that we will rapidly scale growth in the quarters ahead”, commented Zack Johnson, founder of ggCircuit. “eSports are already a billion-dollar opportunity and expanding at a CAGR of 24%,” added Murphy Vandervelde, founder of Helix. “With growing mass market appeal and a wealth of untapped opportunities, I am eager for Helix to become part of Esports Entertainment Group, where we can capitalize on the significant macro trends that will help catapult us to global leadership in this dynamic industry.”