The London-based esports company Gfinity has announced it's acquired US esports technology provider CEVO for a total of $2.7m payable in cash and shares, marking the company's first move into the North American market.
Founded in 2004, CEVO made its name in esports competition operations, and has also provided cutting edge technology to a number of blue-chip organisations. Likewise, its proprietary tournament platform has been used in esports events around the world, and includes its own anti-cheat system and dynamic broadcast software.
CEVO first started working with Gfinity three years ago, and the acquisition will no doubt strengthen Gfinity's position as a world-leading esports provider. The company also plans to roll out more events in the coming years after the success it's seen in the UK, Mexico, France and the US.
Nevile Upton, CEO of Gfinity commented: We are delighted to have acquired one of the most reputable esports businesses in the industry, which further strengthens our position as a market leader in esports technology. It is also demonstrative of our ambition to become a global player in the industry having previously delivered events in the UK, France, Mexico and USA since the start of this year.
CEVO's combined experience of 50 years in the market supplements our existing team of talented individuals – with some of the most experienced esports operators in the industry – leaving us well positioned to take advantage of a growing number of esports opportunities in future.”
For more detailed analysis on how the acquisition will affect esports tournaments going forward, check out our sister site, Esports Pro.