Modern Times Group MTG AB’s (publ.) (“MTG”) esport portfolio companies ESL Gaming and DreamHack have today jointly announced a combination in order to increase competitiveness, accelerate products and events innovation and to offer the widest portfolio to the market. MTG will update the market on the combination as part of its Q3 2020 financial reporting.
MTG has been the principal owner of ESL Gaming, the world’s largest esport company, and DreamHack – the premier gaming lifestyle festival company – since the acquisitions of the respective companies in 2015. The two companies and MTG today announced the decision to combine the two organizations 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 organization and operations and long term, through the superior products that the new combined entity can offer the market,” says Maria Redin, President and CEO of MTG.
By aligning combined resources and expertise built over two decades of global esport and gaming leadership, the 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. The new combined company 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 % in ESL Gaming following the combination and ESL Gaming in turn will hold 100% of DreamHack.
MTG will update the market on the progress of the combination as part of the company’s Q3 2020 financial reporting.