? Acquisition
Canada-based gaming platform Enthusiast Gaming Holdings (TSX: EGLX, OTCQB: ENGMF, FSE: 2AV) has closed the acquisition of California-based global YouTube gaming platform Omnia Media from Toronto-based international producer and operator Blue Ant Media for a total of about $34.1m, with a 4-month period of stock consideration
The purchase price includes:
$8.3m in cash
$21.5m worth of Enthusiast Gaming’s common shares (18%)
$4.3m face value of a vendor-take-back note
With this acquisition, Enthusiast Gaming expected to immediately generate positive EBITDA
The company also becomes the largest gaming and esports media platform in North America, reaching over 1 billion views on websites and over 4.2 billion views across all channels monthly, with over 75% of views being premium video
Additionally, the company has closed the related public offering, gaining $13.16m of gross proceeds
The acquisition was announced this August, during the Enthusiast Gaming’s report
? Products
Omnia is one of the largest gaming video networks with over 50 million monthly active users. The company creates videos and shows to promote clients products through popular video hosting sites
Currently, it has over 1,000 channels with more than 500 million subscribers and 30 weekly shows among them, with 3.2 billion monthly video views overall
The company also represents over 500 gaming influencers across YouTube and Twitch
SOURCES: ENTHUSIASTGAMING, SEEKINGALPHA, GLOBENEWSWIRE
