UK based esports solutions provider, Gfinity, has expanded into North America following the acquisition of CEVO.
The deal, valued at $2.7 million with a combination of cash and shares, will see the esports technology provider join Gfinity at a time of global expansion.
CEVO is known in the US for its esports technology, which includes a tournament management system, anti-cheat systems and broadcast software. The company also has strong ties to other technology providers in the US which will help with Gfinity's strategy of bringing esports events to fans globally, in addition to their staging events in its arena in London.
Gfinity has been working with CEVO for three years and the Gfinity board believes that the integration of the two companies will help enhance Gfinity's core technology. This makes for potentially one of the strongest esports technology siutes available on the market.
“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," said Gfinity chief executive, Neville Upton. "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.”
“We are very excited to join Gfinity, with whom we have enjoyed a strong relationship with for several years," said CEVO CEO, Eric Ping. "This is a great opportunity to create a truly world-class global esports business. Our combined technical capability allows us to provide a truly valuable suite of esports products and solutions which we look forward to presenting to our partners."