UK-based esports company Gfinity plc (LSE: GFIN) has acquired the entire issued share capital of US-based esports technology and services firm Cevo, Inc, for a total consideration of up to USD 2.7m payable in cash and shares, the company said.
Founded in 2004, Cevo has built a reputation for the operation of its own esports competitions, primarily in North America, and as a provider of technology and services to a client base of blue-chip organisations in the esports space.
25 July 2017 - UK-based esports company Gfinity plc (LSE: GFIN) has acquired the entire issued share capital of US-based esports technology and services firm Cevo, Inc, for a total consideration of up to USD 2.7m payable in cash and shares, the company said.
Cevo has developed proprietary technology and a suite of esports products, including leading anti-cheat software, used by a number of major operators in the industry, including Gfinity, and a range of esports broadcast products.
Gfinity said that Cevo's technology, including its tournament management system, anti-cheat system and dynamic broadcast software, strengthens Gfinity's position as a provider of end-to-end esports solutions.
The Cevo management team, with almost 50 years of collective experience in the esports industry, strengthens Gfinity's capability to take advantage of the wide range of opportunities in the fast growing esports sector