Latest in Gaming

Image credit:

Swedish media house buys world's largest eSports company

2 Shares
Share
Tweet
Share

Sponsored Links

Professional gaming is a hot item in the investment world right now and even the largest eSports organizations are getting in on the action. On Wednesday, international entertainment company MTG purchased ESL, the largest eSports organization in the world. MTG spent 78 million euros ($86.4 million) for a majority stake -- 74 percent -- in ESL's holding company, Turtle Entertainment GmbH. This deal marks the first acquisition of an eSports company by a traditional media organization.

ESL regularly hosts high-profile tournaments for professional players across games including Battlefield 4, Halo, Dota 2, Counter-Strike, StarCraft 2, Mortal Kombat and Hearthstone. Jens Hilgers founded the company in 2000 and he will remain on ESL's management team, alongside both of the company's managing directors and the inventor of the ESL Play platform, Jan Philipp Reining.

"ESports is fast becoming one of the most watched and passionately followed global sports categories amongst younger audiences," MTG President and CEO Jørgen Madsen Lindemanns says. "There are now almost as many gamers in the world as traditional sports fans, and eSports is already bigger than ice hockey. However, the average revenue generated per eSports enthusiast in 2014 was just over $2, compared to $56 for traditional sports enthusiasts, so this global phenomenon has tremendous potential."

[Image credit: ESL]

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
2 Shares
Share
Tweet
Share

Popular on Engadget

Nikola founder resigns following SEC probe into electric truck business

Nikola founder resigns following SEC probe into electric truck business

View
Logitech’s new MX Anywhere 3 mouse has buttons to control Zoom calls

Logitech’s new MX Anywhere 3 mouse has buttons to control Zoom calls

View
Live PlayStation 5 photos reveal a truly giant console

Live PlayStation 5 photos reveal a truly giant console

View
Microsoft releases a final preview for Windows 10's October update

Microsoft releases a final preview for Windows 10's October update

View
NASA unveils 'the most powerful rocket ever built'

NASA unveils 'the most powerful rocket ever built'

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr