Mon, 02 Mar 2015 | BUSINESS SALE
High street retailer Game Digital has acquired the games events organiser Multiplay (UK) in a deal worth £20 million.
Based in Southampton, Multiplay was set up in 1997 and organises events and offers gaming services for some of the biggest names in the industry. It has arranged over 150 gaming events across the UK and internationally, which includes its flagship Insomnia festival, which last year saw 67,000 attendees. Additionally, the Insomnia website saw 1.4 million users logging on and 45 million media impressions via YouTube, Twitch and Flickr.
Game Retail chief executive said of the acquisition: “The world of live events, eSports and multiplayer gaming is growing rapidly and one we have been looking to enter for some time," he said. "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 - their passion and enthusiasm for games is infectious.”
The £20 million deal will mean that Game Digital will acquire Multiplay's entire issued share capital, with £12.6 million paid in cash and the final £7.4 million to be paid in deferred cash and shares over three years.
Craig Fletcher, Multiplay's chief executive and founder, will retain his position in charge of the firm as well as its 50 members of staff.
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