Sweden based Modern Times Group (MTG) has agreed upon and completed the acquisition of Dreamhack in a $28,200,000 move.?
Today, MTG, a international media company based in Sweden, has finished its acquisition of the eSports giant Dreamhack. Before this purchase, Dreamhack was one of the world's largest eSports companies and was the organizer of the world's biggest digital festivals, Dreamhack Summer and Dreamhack Winter. Dreamhack was the leading eSports influence in Scandinavia and was responsible for organizing the majority of the local and global tournaments, leagues, and championships. The company's seven live events in 2014 were major successes and attracted an audience of over 105,000 people, and that's not counting the 34 million hours of Dreamhack game footage that has been watched by eSports fans all around the world.
MTG acquired complete ownership of Dreamhack for an enterprise value of $28,200,000 (~€26,000,000), from several private investors as well as the company's management. Despite this change the Dreamhack management will continue to drive the progress of the company. The company generated ~$8,000,000 (~€7,425,000) in sales in 2014, and is projected to make even more in 2015.
This investment follows that of another that was made earlier this year when MTG purchased 74% of ESL, the world's largest esports sports company. MTG also recently invested in Zoomin, Europe's largest multi-channel network, as well as splay, the largest multi-channel network in Scandinavia.
MTG president and CEO, Jørgen Madsen Lindemann, commented on the acquisition of Dreamhack:
Our strategy is to invest in relevant, complementary and scalable digital brands, content and communities. We are creating a digital video entertainment ecosystem and esports is at the very centre of this given its global appeal and huge following.”
Dreamhack CEO, Marcus Lindmark, had this to say of the move:
Headline photo and quotes courtesy of MTG's Press Release.
