The Esports Observer, Leading Esports Business Publication, is Wholly Acquired by American City Business Journals, Owner of SportsBusiness Journal
We are elated to announce today that The Esports Observer, the world’s leading source for esports business news and insights, has been wholly acquired by Advance Publications. This marks the first acquisition of a BITKRAFT portfolio company.
"The Esports Observer was one of our first incubation projects in BITKRAFT. We built the company to solve a specific pain-point in our industry: the lack of a central credible source for esports business news and insights. We were convinced that this was a real need and addressing it we could also accelerate the growth of the industry at large. Just three years in the making we have succeeded in the mission we set for ourselves and we are very excited to be selling this great asset to a leading North-American publisher and operator in the sports and media space, commented BITKRAFT Founder and Managing Director, Jens Hilgers. “If anything this further validates the industry focussed investment strategy of BITKRAFT which we continue to develop and expand across various segments in the esports industry."
This transaction is part of Advance’s continued investment in the business of esports, games and traditional sports. TEO will join Advance’s growing group of companies dedicated to serving the professionals that operate in and around these industries. These companies include the Sports Business Journal and Leaders, the leading brands in sports business news and events, and Advance’s recent majority acquisition of Newzoo, a market intelligence and analytics firm with a primary focus on games, esports and mobile. TEO’s facilitation of industry networking through curated events in the esports ecosystem will enhance the efforts of both SBJ and Leaders, which both cater to an audience trying to gain a better perspective on the growing global esports phenomenon. TEO will also now be able to offer its audience greater access to even more granular data in the business of esports and games through closer collaboration with Newzoo.
It’s a pivotal day in the world of esports as we work to see the global expansion of the industry.
Read more here.