- ESE Entertainment (ESE) has signed a letter of intent to acquire leading esports company, Digital Motorsports
- ESE intends to pay in cash and common shares priced at $1.48 per share
- The acquisition would include Digital Motorsports’ portfolio of intellectual property related to racing simulator solutions
- Digital Motorsports is an Irish company that provides infrastructure, technology and support for esports across the globe
- ESE is a Europe-based entertainment and technology company focused on gaming, particularly on esports
- ESE Entertainment (ESE) is up by 10.81 per cent and is currently trading at $1.64 per share
ESE Entertainment (ESE) has signed a letter of intent to acquire leading esports company, Digital Motorsports.
ESE is contemplating the purchase of 100 per cent of Digital Motorsports. The purchase price, which will be confirmed upon the completion of further due diligence, will consist of cash and ESE common shares priced at $1.48 per share.
The acquisition would include Digital Motorsports’ portfolio of intellectual property related to racing simulator solutions, components and cloud-based racing services.
Digital Motorsports is an Irish company that provides infrastructure, technology and support for esports across the globe, particularly in the simulation racing sector, working with some of the world’s most recognizable brands.
The company has key vendor distribution rights and partnerships in the industry, including contracts with the FIA-accredited Motorsport Ireland to host all of its national esports events.
In addition, Digital Motorsports has worked with world champions across multiple disciplines from F1, WEC, WRC and Drifting.
The LOI provides that the founder and CEO of Digital Motorsports, as well as its staff, will continue to operate the business following the closing.
Konrad Wasiela, CEO of ESE, commented,
“We are excited to work closely with Digital Motorsports to build on their existing business, focusing on increasing revenue and profit margins. Niall and his team at Digital Motorsports have been able to prove a profitable business model, with contracts with tier-1 customers across the globe, and they are just getting started.”
Niall Maher, CEO of Digital Motorsports, added,
“We believe in Konrad and his team’s ambition to grow ESE into a billion-dollar plus company. The visions of the two companies are aligned to take the top spot on the podium.”
ESE is a Europe-based entertainment and technology company focused on gaming, particularly on esports.
ESE Entertainment (ESE) is up by 10.81 per cent and is currently trading at $1.64 per share as of 9:40 am ET.
