Gfinity acquires CEVO
Gfinity, is pleased to announce that it has acquired CEVO Inc., a well-respected American provider of technology and services to the global esports market, for a total of $2.7 million USD payable in cash and shares.
Founded in 2004, CEVO has built an excellent reputation for the operation of its own esports competitions and as a provider of leading edge, world class technology and services to a client base of blue-chip organisations.
CEVO’s own proprietary tournament platform has proved very popular to the esports community and is used for its own tournaments and in partnership with other esports promotors. Its technology includes a tournament management system, an anti-cheat system and dynamic broadcast software, which will strengthen Gfinity’s position as a leader in the esports sector.
Having already worked with CEVO for three years, the acquisition is part of Gfinity’s strategy of delivering premium esports events to fans across the globe thanks to a superlative team of experienced esports operators. The company has delivered successful events in the UK, Mexico, France and the USA since the beginning of 2017 and has plans to roll out more in the coming years.
Neville Upton, Chief Executive of Gfinity, said: “We are delighted to have acquired one of the most reputable esports businesses in the industry, which further strengthens our position as a market leader in esports technology. It is also demonstrative of our ambition to become a global player in the industry having previously delivered events in the UK, France, Mexico and USA since the start of this year.
CEVO’s combined experience of 50 years in the market supplements our existing team of talented individuals – with some of the most experienced esports operators in the industry – leaving us well positioned to take advantage of a growing number of esports opportunities in future.”
Eric Ping, Chief Executive of CEVO, said: “We are very excited to join Gfinity, with whom we have enjoyed a strong relationship with for several years. This is a great opportunity to create a truly world-class global esports business. Our combined technical capability allows us to provide a truly valuable suite of esports products and solutions which we look forward to presenting to our partners.”
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