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London-Based Gfinity Pays $2.7M To Acquire Tech Provider CEVO

London-based esports brand Gfinity "acquired a global provider of the underlying tech" for some of the biggest esports events in the world "as it looks to spread its wings into North America," according to Billy Wood of BDAILY. The company announced that it acquired CEVO, which has developed a range of esports tech including anti-cheat software, for a total consideration of $2.7M consisting of cash and shares. Founded in '03, CEVO "has developed a suite of applications" utilized by major leagues and competitions in the global esports scene, including its tournament management system and broadcasting software. The acquisition "builds on pre-existing commercial relationships between the two firms," with Gfinity having utilized CEVO's tech for its own tournaments for the last three years (BDAILY, 7/24).

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