UK high street retailer, Game Digital, has acquired gaming events company Multiplay for £20m.
As part of the £20 million acquisition deal, GAME will pay £12.6 million up front and then a further £7.4 million will be paid in cash and shares over a period of three years.
Established in 1997, Multiplay is a gaming services company which focuses on events services, online services, systems development, digital consultancy, esports and more. The company is best known for its flagship consumer event, Insomnia, which last year was attended by over 67k people. Minecraft maker Mojang, EA Sports, Electronic Arts, Ubisoft and Jagex Studios are some of Multiplay’s biggest gaming industry clients.
Announcing the deal, GAME CEO Martyn Gibbs said “The acquisition of Multiplay is an exciting and strategically important step for GAME.”
“The world of live events, eSports and multiplayer gaming is growing rapidly and one we have been looking to enter for some time. By acquiring Multiplay we are benefitting from nearly two decades of experience, during which time Multiplay has built an exceptional reputation and leading position in its markets. Multiplay has a great management team and a fantastic culture — their passion and enthusiasm for games is infectious. Like Multiplay, our communities are at the heart of our business, and together we will be able to move even faster to grow and develop our services for both gamers and suppliers in the UK, Spain and around the world.”
It is reported that the acquisition deal will not result in any job loss, Multiplay founder and CEO Craig Fletcher will still remain in charge.