Gfinity PLC Gfinity Acquires SiegeGG (0436L)
08 September 2021 - 4:00PM
UK Regulatory
TIDMGFIN
RNS Number : 0436L
Gfinity PLC
08 September 2021
8 September 2021
Gfinity plc
("Gfinity" or the "Company")
Gfinity Acquires SiegeGG a leading Rainbow Six Siege website and
social channel
Gfinity (AIM: GFIN), a world-leading esports and gaming
solutions provider, today announces the acquisition of the trade
and assets of SiegeGG Corporation ("SiegeGG"), which operates
siege.gg, a leading website for statistics, analysis and news
around the Rainbow Six Siege video game (the "Acquisition").
SiegeGG with immediate effect will become part of the fast-growing
Gfinity Digital Media group ("GDM").
Rainbow Six Siege is the highly popular first-person-shooter
(FPS) game developed and published by Ubisoft. It has more than 70
million registered users and an established competitive gaming
scene. SiegeGG is a leading authority for the Rainbow Six Siege
competitive gaming community, with customers of its statistical
information including e-sport tournament operators and Ubisoft
itself.
The Acquisition gives Gfinity ownership of the underlying
methodology and technology used to develop SiegeGG's leading
statistical analysis, which the Company will be able to extend
across other game titles. Gfinity will also assume ownership of the
siege.gg website, with access to its highly engaged audience,
currently delivering one million page views per month, alongside
nearly 100,000 Twitter followers.
SiegeGG will benefit from Gfinity's content and search engine
optimisation (SEO) strategy and advertising performance
optimisation techniques, which will help to drive user growth and
advertising spend. Gfinity will also help to expand the breadth of
coverage SiegeGG offers, enabling the site to offer more enriching
content outside of esports for Rainbow Six fans.
SiegeGG Corporation, the previous owners of SiegeGG, will be
issued with 9.0 million new ordinary Gfinity shares in
consideration for the Acquisition. The founder(s) will also be
entitled to an annual payment of 30% of revenues generated by
SiegeGG, subject to appropriate caps, in the first two years
following the Acquisition, payable in annual instalments at the end
of each year. Additionally, the founder(s) will be entitled to an
annual payment of 20% of the net profits generated by SiegeGG
subject to appropriate caps, in the first two years following the
Acquisition. The SiegeGG management team will commence full time
employment contracts with Gfinity.
For the year ended 31 December 2020, SiegeGG reported unaudited
revenues of $0.1 million and profit before tax of c$40k. It had net
assets on 31 December 2020 of $68k. It has already exceeded these
revenue and profit figures in 2021 as it continues to grow. Gfinity
directors believe that this growth can be significantly accelerated
through inclusion in the GDM network.
The Acquisition of SiegeGG marks the third significant
transaction made by Gfinity in the past nine months, following the
acqusitions of Stock Informer in August 2021 and EpicStream in
December 2020. These transactions are strengthening the performance
of the Company's fast growing GDM, improving the Company's ability
to offer broader and more in-depth content to its dedicated
fans.
Gfinity CEO John Clarke said: " Gfinity's strategic focus is
based on strengthening and growing 'what we own', in particular the
Gfinity Digital Media group . We are excited to bring such a highly
regarded website into the GDM and such a talented team led by
Spencer into the Company. SiegeGG benefits from a highly engaged
community of fans and industry-leading statistical analysis.
Together with Gfinity's technology and engagement expertise, we
look forward to taking the site to the next level and leveraging
the technology across multiple game titles. This transaction once
again highlights the ambition of the Directors to continue to drive
profitable growth within the Group " .
SiegeGG CEO Spencer Glenn said: "We're very excited to be
joining Gfinity. We've worked hard to build this project on our own
and achieved success in doing so, but the resources and expertise
that we gain from the Gfinity team will be invaluable in
accelerating the work we've already been doing, as well as opening
new doors that we never thought possible."
ENDS
Enquiries:
Gfinity plc www.gfinityplc.com
John Clarke, CEO Via Teneo
Teneo (Media) Tel: +44 7880 715975
Anthony Di Natale Gfinity@teneo.com
Tel: +44 (0)207
Canaccord Genuity Limited 523 8150
(AIM Nominated Adviser & Broker)
Bobbie Hilliam / Georgina McCooke
About Gfinity
Gfinity (AIM: GFIN) is a world leading esports business. Created
by gamers for the world's 2.7 billion gamers, Gfinity has a unique
understanding of this fast-growing global community. It uses this
expertise both to provide advisory services and to design, develop
and deliver unparalleled experiences and winning strategies for
game publishers, sports rights holders, commercial partners and
media companies.
Gfinity connects its partners with the esports community in
authentic and innovative ways. This consists of on-- and off-line
competitions and industry--leading content production.
Relationships include EA SPORTS, Activision Blizzard, F1 Esports
Series and the Forza Racing Championship.
Gfinity connects directly with tens of millions of gamers each
month through its digital media group, Gfinity Digital Media.
Gfinity Digital Media includes websites such as: Gfinityesports,
RealSport101, StealthOptional, RacingGames.gg, MTGRocks.com and
their respective social channels.
All Gfinity services are underpinned by the Company's
proprietary technology platform delivering a level playing field
for all competitors and supporting scalable multi-format leagues,
ladders and knockout competitions.
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END
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