Terre Haute Software Company Part of $43M Acquisition
(photo courtesy of ggCircuit)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA Terre Haute-based software company will soon be under new ownership as part of a $43 million deal. Esports Entertainment Group Inc. (Nasdaq: GMBL), headquartered in Malta, says it will acquire ggCircuit LLC and another company to create what Chief Executive Officer Grant Johnson calls “the most diversified, U.S.-listed esports entertainment asset.”
The deal also includes the acquisition of Helix eSports LLC, which is based in New Jersey, owns five esports centers in the U.S. and has developed a player-versus-player wagering platform.
ggCircuit is a software company that provides cloud-based management for LAN centers, an esports tournament platform, and point-of-sale solutions for businesses, such as GameStop, Dell, and Best Buy.
“These acquisitions significantly strengthen our Three Pillar Strategy, adding state-of-the-art esports entertainment centers, an esports-focused vertical enterprise software business, a best-in-class esports analytics platform, and a player-vs-player skill-based wagering platform to our diversified asset base,” said Johnson. “Together with what we’ve already built and further near-term acquisition opportunities, Esports Entertainment Group is well on its way to becoming a global industry leader.”
ggCircuit was founded by Zack Johnson, a graduate of Rose-Hulman Institute of Technology. He says he is confident the acquisition will “rapidly scale growth” over the next several quarters.
EEG did not state whether any jobs would be affected by the acquisition.