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Immortals esports acquires OpTic Gaming owner Infinite Sports & Entertainment

Immortals Gaming Club announced the acquisition of Infinite Esports Entertainment, the parent company of OpTic Gaming. The deal values Infinite at more than $100 million in enterprise value. It also represents the largest ownership change transaction in esports history, the companies claim, and it makes Immortals one of the world’s largest esports organizations.

IGC now has four distinct brands (Immortals, OpTic, MIBR and L.A. Valiant) and a presence in both franchised esports leagues (League of Legends Championship Series and the Overwatch League).

The transaction follows lGC’s $30 million funding round, as well as its acquisition of Brazilian matchmaking platform Gamers Club. IGC claims it now has a reach exceeding 35 million people across all platforms.

“Today, we announced a transformative transaction for our organization and a landmark transaction for our industry. Across our family of brands, OpTic; MIBR; L.A. Valiant; and Immortals, IGC’s total audience size is nearly three times larger than our nearest competitors,” said Ari Segal, IGC’s CEO, in a statement. “At the same time, our multi-brand strategy enables us to tailor content, messaging, voice, and experience for distinct communities and audience segments, driving deeper engagement and affinity. Armed with these brands, the best fans in esports, the legacy and tradition of great teams and players, and a newly reinforced and strong balance sheet, IGC is positioned to be a market leader and model organization.”

Current Infinite investors including Neil Leibman and Ray Davis, co-owners of the Texas Rangers Major League Baseball team, will become shareholders in IGC. Leibman will join IGC’s board, serving alongside AEG’s Steve Cohen, Meg Whitman, Lionsgate, Griffin Gaming Partners’ Peter Levin, the Milken Family, and Steve Kaplan.

“We’re incredibly excited to work to preserve, sustain and grow OpTic’s unique and special place as the original

Article source: https://venturebeat.com/2019/06/12/immortals-esports-acquires-optic-gaming-owner-infinite-sports-entertainment/

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