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Gfinity's $2.7m eSports tech acquisition could see it become a major global player

London-headquartered eSports brand Gfinity has acquired a global provider of the underlying tech for some of the biggest eSports events in the world as it looks to spread its wings into North America.

The company has announced this morning (Monday 24 July) that it has acquired CEVO, which has developed a range of eSports tech including anti-cheat software, for a total consideration of $2.7m consisting of both cash and shares.

Founded in 2003, CEVO has developed a suite of applications utilised by major leagues and competitions in the global eSports scene, including its tournament management system and broadcasting software.

The acquisition builds on pre-existing commercial relationships between the two firms with Gfinity having utilised CEVO’s tech for its own tournaments for the last three years.

Neville Upton, Chief Executive of Gfinity, said: “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.”

Eric Ping, Chief Executive of CEVO, said: “We are very excited to join Gfinity, with whom we have enjoyed a strong relationship with for several years.

“This is a great opportunity to create a truly world-class global esports business. Our combined technical capability allows us to provide a truly valuable suite of esports products and solutions which we look forward to presenting to our partners.”

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