Esports Entertainment Group (EEG) is set to acquire venue company Helix eSports and B2B software provider ggCircuit, in a $43M USD deal. 

ggCircuit

Providing a cloud-based management system, tournament platform, and integrated point-of-sale enterprise solution, ggCircuit’s network covers more than 1,000 locations, and its clients include Best Buy, Dell, GameStop, Lenovo, and a number of US universities. 

The company says its ggLeap software management solution for physical gaming facilities supports over 60M hours of usage by over 2M users. 

Discussing the news ggCircuit Founder, Zack Johnson, said:

“We are excited to join forces with Esports Entertainment Group and believe with our combined resources we can rapidly scale growth in the quarters ahead.”

Helix eSports

Operating five gaming centres in the United States, including the Massachusetts venue that serves as the training facility for Overwatch League’s Boston Uprising, Helix eSports’ centres provide access to high-end gaming equipment for both casual and competitive play. 

In May, New Jersey-based Helix eSports merged with esports analytics company Team Genji – which worked with major publishers and leagues including FIFA and the NBA 2K League. 

Discussing the planned acquisition by EEG, Helix eSports Founder, Murphy Vandervelde, said:

“Esports is already a billion-dollar opportunity and expanding at a CAGR of 24 percent. With growing mass-market appeal and a wealth of untapped opportunities, I am eager for Helix to become part of Esports Entertainment Group, where I believe we can truly capitalise on the significant macro trends that can catapult us to global leadership in this dynamic industry.”

The most diversified US-listed esports entertainment asset

According to EEG, its acquisition of ggCircuit and Helix eSports will give it the “most diversified US-listed esports entertainment asset in the industry,” accelerate its path to becoming a global esports entertainment leader, add 2 million unique gamers to its platform, add over 1,000 connected locations, add a state-of-the-art analytics platform, give it ownership of two of the five largest esports entertainment centres in the US, add safe and regulated player-vs-player wagering opportunities with Helix’s LANduel platform, and give it best-in-class enterprise software solutions. 

Regarding the deal CEO of Esports Entertainment Group, Grant Johnson, commented:

“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.”

Although EEG, which operates online esports betting platform VIE.gg, is listed in the United States, it maintains operations in the Mediterranean gaming hub of Malta. 

AYO.NEWS says:

EEG isn’t wasting any time when it comes to scaling – which is probably a smart move given the unprecedented boom in all things esports and video gaming. Earlier this month, EEG announced partnerships with the NHL’s LA Kings, and MLS’ LA Galaxy. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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