New Wave Esports Buys Top Canadian FGC Esports Tournament Organizer
New Wave Esports Corp., or NWE, (CNSX:NWES), the company that’s helping esports and competitive gaming reach their full potential, has agreed to buy Even Matchup Gaming Inc. (EMG) for $1.23 million to be paid in cash ($550,000) and shares in tranches over the next six months, at the end of which NEW will own 100% of EMG.
EMG specializes in producing and broadcasting onsite and online fighting game community (FGC) esports tournaments, featuring such games as Super Smash Bros. and Dragon Ball Fighter Z among others. New Wave, which already holds 18% of Toronto based EMG, will acquire all of the latter’s issued and outstanding shares. Given NWE’s main interest, investing in and enhancing (through advisory services) esports companies, it’s clear to see the appeal of EMG, which hosts about 80 events per year. Among the most important are the annual Get on My Level – Canada’s largest fighting game tournament – and Let’s Make Moves tournaments, which have attracted 2,100 (and just under a million livestream views) and 1,000 attendees respectively for their 2019 events. Both are expected to boost attendance and viewership in 2020.
NWE clearly believes in EMG’s potential (the company has already produced 500 events at all levels in Canada) to dominate one of the fastest growing and critical niches within the esports sector (fighting games) and the latter’s ability to boost growth and profits. NWE’s portfolio already includes, Tidal Gaming: (owner and operator of Canada’s premier esports team Lazarus), PlayLine (Daily fantasy sports betting platform, co-founded by UFC middleweight champion Michael Bisping), and Thunderbolt CDG (software applications and technology development company).
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