- ESE Entertainment Inc. (ESE) has completed its acquisition of Digital Motorsports for $1,681,250 in cash and 941,500 shares
- ESE has acquired 100 per cent of the issued and outstanding shares of the company for C$1,681,250 in cash and 941,500 shares at closing
- Digital Motorsports is an Ireland-based provider of advanced simulation racing infrastructure, technology, and support
- ESE is a Europe based entertainment and technology company focused on gaming, particularly on esports
- ESE Entertainment Inc. (ESE) is currently in the grey, trading at $1.01 per share
ESE Entertainment Inc. (ESE) has completed its acquisition of Auto Simulation Limited T/A Digital Motorsports.
Digital Motorsports is an Ireland-based provider of advanced simulation racing infrastructure, technology, and support.
ESE has acquired 100 per cent of the issued and outstanding shares of the company for C$1,681,250 in cash and 941,500 shares at closing and will issue an additional 8,473,500 shares in equal installments over six months.
The company will also make a capital contribution to Digital Motorsports, in the amount of €250,000, to fund Digital Motorsports’s working capital needs.
Konrad Wasiela, CEO of ESE, commented on the acquisition.
“Closing this deal catapults our digital motorsports business to a new level,” he said, “providing us with an industry-leading eCommerce platform, new technologies, global tier 1 partnership, and additional esports infrastructure.”
Niall Maher, CEO of Digital Motorsports, also commented.“DMS is set to capture market share by creating a clear bridge between professional motorsport and esports,” said Maher.
“This deal gives our brand access to the tier 1 infrastructure, resources, and capital to help take our business to the next level.”
ESE is a Europe-based entertainment and technology company focused on gaming, particularly on esports.
It provides a range of services to leading video game developers, publishers, and brands by providing technology, infrastructure, and fan engagement services internationally.
ESE Entertainment Inc. (ESE) is currently in the grey, trading at $1.01 per as of 1:17 pm ET.