Enthusiast Gaming Holdings Inc., a fastest-growing online community of video gamers, has signed a definitive agreement to purchase 20 per cent of shares in Waveform Entertainment Inc. for an aggregate consideration of $1,680,000. Waveform is a leading esports broadcast and production company, established in 2018.
Waveform has been on the leading edge of esports event production and broadcast for several years, servicing some of the world’s most prestigious esports tournaments and events including Dreamhack, Cineplex WorldGaming, and Enthusiast owned, EGLX.
“Investing in Waveform will contribute greatly to the expansion of EGLX and our events business. Waveform’s infrastructure and expertise are key for the roll out of the Rising Star Series and upcoming esports tournaments at EGLX in the future,” commented Menashe Kestenbaum, CEO of Enthusiast. “We were very impressed by the organisation of our esports tournaments at EGLX in October 2018 and we see significant growth potential as esports continue to soar.”
As esports continues to grow with $1.1bn in projected revenues in 2019, large brands are entering the industry by sponsoring esports teams and championing their own activations. Waveform has partnered with major brands including Evil Geniuses, Virtus Pro, Ubisoft, AMD, Asus, Team Liquid and more. The investment into Waveform will help Enthusiast’s mission to reach gamers both online and offline.
About Enthusiast Gaming:
Founded in 2014, Enthusiast is the fastest-growing online community of video gamers. Through the Company’s unique acquisition strategy, it has a platform of over 80 owned and affiliated websites and currently reaches over 75 million monthly visitors with its unique and curated content and over 50 million YouTube visitors. Enthusiast also owns and operates Canada’s largest gaming expo, Enthusiast Gaming Live Expo, EGLX, (eglx.ca) with over 55,000 people attending in 2018.