GAME acquires Multiplay
Specialist video games retailer GAME has acquired Multiplay, a community-based games company focused on live events, online gaming services and eSports.
GAME said the acquisition will enable it to expand its community-events and eSports programme and drive deeper interaction with gamers. In addition, the acquisition will open up new opportunities for GAME to increase its presence in the digital PC games market as it looks to grow the size of its gaming communities and offer customers new products, services and gaming experiences.
Established in 1997, Multiplay has organised over 150 gaming events in the UK and internationally, including its flagship "Insomnia" festival. The company also provides online multiplayer gaming services to PC gamers around the world and its clients include the likes of Mojang, Nexon, Electronic Arts, Ubisoft, DICE and Jagex Studios.
Multiplay's chief executive and founder Craig Fletcher will continue to lead the business following the acquisition and will report directly to Game chief executive Martyn Gibbs. All 50 of the business's employees will remain with the company and will continue to operate from Multiplay's headquarters in the New Forest.
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 benefiting 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. 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."
GAME has acquired the entire issued share capital of Multiplay for a total consideration of £20 million, comprising £12.6 million to be paid in cash on completion and £7.4 million payable in deferred cash and shares over the next three years. The initial cash payment will be funded through GAME's existing cash resources.
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