Continuing to shift in focus towards data collection and sports racing titles, Millennial Esports [stock_market_widget type="inline" template="generic" color="default" assets="MLLLF" markup="(OTCMCKTS: {symbol} {currency_symbol}{price} ({change_pct}))" api="yf"] [stock_market_widget type="inline" template="generic" color="default" assets="GAME.V" markup="(TSXV: {symbol} {currency_symbol}{price} ({change_pct}))" api="yf"] has entered an agreement to acquire a 51% stake in DriverDB.com.
The deal will see Millennial paying out £60,000 GBP in stock and £140,000 GBP in cash, with an additional £50,000 in stock to be issued to the Driver Database founders upon the deal’s final closing.
Besides gaining access to the site’s estimated 70,000 monthly visitors, data from the Driver Database will be utilized to offer analysis services for video rights holders, streaming media clients, and groups that handle wagers on eSports event.
The company is additionally gearing up to ask shareholders for approval to change names from Millennial Esports to Torque Esports Corp at an upcoming annual meeting next month to further cement the two-pronged approach towards racing and data collection.
Discussing the DriverDB acquisition, Millenial Esports Chief Executive Officer Darren Cox commented:
The deal is expected to close in mid-October, and will allow Millennial to offer real time data collection and analytics through the Stream Hatchet service, which has been monitoring and reporting on a recent spike in online eSports viewership through platforms like Twitch.
While the NBA, NFL, and WWE have dominated event headlines lately, racing games have still been represented in eSports events of all levels this year.
Notably, the upcoming Lets Play Live Playstation Plus Friendlies held at the Auckland Armageddon convention will include $300,000 in prizes for both Crash Team Racing Nitro Fueled and FIFA 20 next month.
Millennial buying a majority stake in DriverDB isn’t the only instance of an eSports company snapping up famous online resources to expand their portfolio so far this quarter.
Earlier this month Enthusiast Gaming Holdings Inc. [stock_market_widget type="inline" template="generic" color="default" assets="EGLX.V" markup="(TSXV: {symbol} {currency_symbol}{price} ({change_pct}))" api="yf"] also finalized the acquisition of The Sims Resource after completing the company’s deferred payment obligation ahead of schedule.
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