Modern Times Group (MTG) eSport portfolio companies ESL Gaming and DreamHack have jointly announced a combination in order to increase competitiveness, accelerate products and events innovation and to offer the widest portfolio to the market.
MTG has been the principal owner of ESL Gaming, the eSport company, and DreamHack – the gaming lifestyle festival company – since the acquisitions of the respective companies in 2015. The two companies and MTG have announced the decision to combine the two organisations while retaining both brands.
“This is an important step to cement our leading position in esport and gaming lifestyle, and an important milestone in our ownership in both ESL Gaming and DreamHack. The combination will create significant shareholder value both short term through the more efficient organisation and operations and long term, through the superior products that the new combined entity can offer the market,” said Maria Redin, President and CEO of MTG.
MTG said thee unified company – which will go under the brand name ESL Gaming – will have expanded flexibility and skills to continue meeting the ever-changing desires, demands and needs of its fans, community, players and partners while reaching a broader audience.
ESL Gaming will be led by Co-CEO’s Craig Levine – a long serving ESL Gaming executive and Ralf Reichert, co-Founder of ESL. MTG will hold 91.46 per cent in ESL Gaming following the combination and ESL Gaming in turn will hold 100 per cent of DreamHack.
MTG will update the market on the progress of the combination as part of the company’s Q3 2020 financial reporting.