E-sport is no longer a niche, but has a wide reach.
Munich Mega deal in the German gaming industry: The Swedish Modern Times Group (MTG) sells the Cologne-based e-sports organizer ESL Gaming. The Savvy Gaming Group (SGG) takes over the company with around 600 employees for a good one billion dollars, as the companies announced on Monday. Behind the buyer is the Public Investment Fund (PIF), a sovereign wealth fund from Saudi Arabia.
ESL is the world market leader in e-sports, i.e. the organization of professional sports competitions with computer games. More than 20 years ago, founder and co-CEO Ralf Reichert recognized the potential of events where people play against each other via a network of computers.
Back then, Reichert and his co-founders hosted LAN parties, today the company organizes competitions that drew tens of thousands of viewers before the pandemic. The most well-known tournament is the Intel Extreme Masters in Katowice, Poland. Because of Corona, ESL recently focused entirely on virtual events that are streamed.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue