ESL acquires ESEA
eSports organization ESL confirmed that Swedish company MTG acquired major stock in ESEA platform. Therefore, MTG owns not only ESL and DreamHack, but also the US company ESEA.
Swedish company boguht 74% of ESL in July 2015. The total prize of the share was 78 millions USD. Next, MTG acquired DreamHack, which holds the main eSports events in Sweden and all over the world. Finally, after a series of negotiations, MTG purchased ESEA, located in the US. The price of the acquisition hasn't been announced. The estimated sum is 20+ millions USD approximately.
The series of joint tournaments by ESL and ESEA was remarkable for eSports community!
ESL founders stated that the acquisition of ESEA won't influence the brand or eSports community. "ESEA will continue as an independent entity under the ESL roof while enjoying the access to all of ESL’s products and services. Members can expect a continuation of the great services they are used to as both the ESEA brand name and community will continue in their existing form. We are especially excited for what the future holds for North America, where the recent expansion of our Burbank studio and the addition of the ESEA platform and team puts us in a great position to do amazing things." said Jens Hilgers, co-founder of ESL.
Modern Times Group (MTG) was created as a media holding by investment company Kinnevik (founded in 1936 in Sweden). Apart from MTG, the holding owns such brands, as Tele2, Avito and many others. MTG owns a number of channels in ten countries, online media services and other businesses, which create content for European audience.