Immortals Gaming Acquires Infinite Esports In $100M Deal
Immortals Gaming Company has acquired Infinite Esports in what is "believed to be the competitive video gaming industry’s first" $100M deal, expanding its stable of esports teams by "purchasing the parent company for OpTic Gaming," according to Jake Seiner of the AP. OpTic’s franchises include teams in the League of Legends Championship Series and Overwatch League. It is a "move back into League of Legends for IGC, which lost its top-level pro club when publisher Riot Games moved to a franchising model" in '18. The LCS team will "retain the OpTic name until rebranding to Immortals" in '20. IGC already owns an Overwatch franchise, the L.A. Valiant. The company said that it will "manage OpTic’s Houston Outlaws on an interim basis, with oversight from the Overwatch League, while trying to sell the franchise to another party." IGC also will "take over OpTic’s Call of Duty World League team." However, the company said that it will "divest its Counterstrike: Global Offensive team." IGC purchased Brazilian CS:GO club MIBR last year (AP, 6/12).
MAKING MOVES: The ESPORTS OBSERVER's Andrew Hayward noted existing Infinite investors, including MLB Rangers co-Owners Neil Leibman and Ray Davis, "will become IGC shareholders, with Leibman joining" the company’s BOD. The acquisition "follows months of uncertainty about the future of Infinite Esports & Entertainment after reports of a potential sale emerged in January." It also comes after the recent announcement of IGC’s $30M Series B raise, along with its "acquisition of Brazil’s Gamers Club matchmaking platform" (ESPORTSOBSERVER.com, 6/12).
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