Jake Tucker . Business . Monday 24th July 2017 . 11:41
Gfinity has struck out across the Atlantic, acquiring CEVO, an American technology and services provider for the esports market.
CEVO was founded in 2004, and is well known for running its own leagues and anti-cheat software, although it also provides white label esports tournament services. Gfinity and CEVO are long time collaborators, and they’ve teamed up on last year’s CEVO Gfinity Counter-Strike: Global Offensive Pro League and Gfinity’s currently running Elite Series.
Several other esports outfits use CEVO’s suite of services, and it’s not known how that’ll be affected by the acquisition, which saw Gfinity fork over 2.7m in cash and shares.
In the meantime, it strengthens Gfinity’s role in the market, giving it presence in north America if the firm wants to build up presence in the region, a stated goal in the press release which states that Gfinity is aspiring to build a global esports business by continuing to expand its global footprint.
Gfinity’s chief executive Neville Upton said in a press release: “We are delighted to have acquired one of the most reputable esports technology players in the in the industry, which further strengthens our position as a market leader in esports technology. It also demonstrates our determination to become a leading global player in the industry having previously delivered events in the UK, France, Mexico and USA since the start of this year.”