Azubu has announced that it has acquired rival streaming platform Hitbox.
The deal, which was reported by the LA Times, is apparently worth “tens of millions of dollars in cash,” and sees Hitbox merge into the Azubu company.
In early 2017 the company will launch a new service that combined both Azubu and Hitbox, and will incorporate the tech that has made each service successful. Once this new service launches they hope to finally be able to challenge Twitch, which has somewhat of a monopoly on the streaming world.
“We’re incredibly excited to welcome the talented Hitbox team into the Azubu esports family,” said Mike McGarvey, CEO of Azubu. “Over the years, Martin’s team at Hitbox has designed and developed industry-leading esports streaming and platform technology while developing a passionate and dedicated following of millions of competitive gaming enthusiasts. The synergies between our respective companies created a compelling opportunity to join forces and I couldn’t be more excited about leading both teams moving forward.”