- X1 Esports and Entertainment (XONE) has closed its acquisition of Octane.GG
- Octane.GG is an online statistical and news outlet focused on the popular video game Rocket League
- The company has also entered into consulting agreements with two individuals who will be responsible for the continued operation of Octane
- The company is making a cash payment of US$35,000 as consideration for the acquisition of the assets
- X1 Esports and Entertainment Ltd. is a gaming and entertainment company
- X1 Esports and Entertainment Ltd. opened trading at C$0.35 per share
X1 Esports and Entertainment (XONE) has closed its previously-announced acquisition of Octane.GG.
Octane.GG is an online statistical and news outlet focused on the popular video game Rocket League.
In connection with the acquisition of the assets comprising the business of Octane, the company has entered into consulting agreements with two individuals who will be responsible for the continued operation of Octane.
The company is making a cash payment of US$35,000 as consideration for the acquisition of the assets.
“We are enthusiastic to have closed on the Octane acquisition,” said Mark Elfenbein, CEO of X1.
“As Rocket League continues to grow in global popularity, owning multiple assets within this Esport allows the opportunity to launch an all-encompassing Rocket League destination site containing breaking news, statistics, video highlights, and fantasy sports,” he added.
Octane is the leading Rocket League Esports statistics platform providing in-depth match statistics across the top events in the space.
The company has also announced that Jan Hoffmann has resigned from the company’s board of directors and as the Chief Executive Officer of the company’s subsidiary, RixGG Europe Ltd., which holds and operates the company’s RixGG e-sports teams.
Latika Prasad, a current director of the company, will be appointed Chief Executive Officer and a director of RixGG Europe Ltd. and will oversee operations with Mark Elfenbein, CEO of X1.
Samantha Shorter has been appointed to fill the vacancy on the Board. In connection with her appointment to the Board, Shorter has resigned as Chief Financial Officer of the Company, and Bobby Dhaliwal has been appointed as the company’s Chief Financial Officer.
Rocket League is one of the world’s leading esports.
X1 Esports and Entertainment Ltd. is a gaming and entertainment company that helps connect brands with Gen-Z and millennial audiences all over the world.
X1 Esports and Entertainment Ltd. opened trading at C$0.35 per share.