Retailer GAME Acquires Multiplay for £20 Million
Multiplay, the electronic sports company best known for hosting its annual Insomnia event and online servers, has been bought out by retailer GAME.
According to reports, the acquisition is priced at £20 million, of which GAME will pay £12.6 million up front. A further £7.4 million will be paid in cash and shares over a period of three years.
Usually when a company is bought out, there are fears of layoffs and shuffling in the infrastructure. GAME however, has no plans to do any of that. Multiplay founder and CEO Craig Fletcher will still remain in charge. Now though, he’ll be reporting to GAME CEO Martyn Gibbs.
“GAME and Multiplay are both passionate about games and gaming, building valuable communities of gamers and putting customers first,” said Multiplay founder and CEO Craig Fletcher. “Over the years we’ve worked closely with the GAME team on many occasions and come to know them well.”
Multiplay’s Insomnia event of last year was attended by over 67,000 people. The company has been in the electronic sports business for a fairly long time and has made a solid name for itself in the competitive gaming circles.
GAME’S CEO Martyn Gibbs added that the decision of acquiring Multiplay is a very important one for the company. Esports is growing rapidly and GAME had been looking for a chance to enter this new arena for some time.