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Volume 7 No. 146

Finance

Advance Publications acquired a majority stake in Dutch esports and gaming research shop Newzoo. Founded in Amsterdam in '07, Newzoo has become a go-to data source for brands, investors and journalists evaluating the emerging world of competitive video gaming. Advance, the parent company of Sports Business Journal/Daily and Condé Nast, will "make a significant capital investment" to accelerate Newzoo’s growth, according to a statement. Newzoo will also support SportsBusiness Journal’s expansion into market intelligence, data and analytics for the traditional sports industry, with the first such product expected to be published in early '19. Financial terms were not disclosed. Wednesday's deal follows SBJ’s recent acquisition of Leaders and investment in The Esports Observer. Talks with Newzoo first began as Advance execs were looking for more investment targets in esports, but enthusiasm grew as they met with the founders and realized Newzoo’s potential in other sports verticals. "Adding Newzoo to the Advance family of companies will add innovative power and capabilities to our group and help us build our sports intelligence business,” SBJ co-Founder & CEO Whitney Shaw said. "Combining the data and resources that we already have at SBJ with the tech, talent, and expertise of Newzoo will be amazing. I cannot wait to get started and share more about our plans in the near future." Newzoo co-Founder & CEO Peter Warman said that he found exactly the buyer he was looking for: an independent company with complementary lines of business in media and technology. "Being part of the Advance family of companies provides us with new opportunities, such as our partnership with Sports Business Journal, a prospect that I’m particularly excited about,” Warman said. With the Advance investment, Newzoo is targeting growth in Asia and the U.S., and will increase its capabilities in big data processing, machine learning and interface technology, co-Founder & CFO Thijs Hagoort said.

For more coverage of the business of esports, visit our partners, esportsobserver.com.