Enthusiast Gaming, parent company of Luminosity Gaming, intends to acquire news and strategy platform Icy Veins for € 7 million.
This amount is expected to be paid in cash and shares. Notably, the transaction amount has been agreed upon by Enthusiast Gaming and Vedatis SAS, owners of Icy Veins, if certain milestones are reached.
Enthusiast Gaming has been working with Icy Veins since 2017 to monetize ad traffic. According to the announcement, the esports organization last year generated about $ 2.4 million in ad revenue for the platform, with 75 percent of that paid to owners of Icy Veins.
If the acquisition is successful, Enthusiast Gaming will retain 100% of its ad revenue and will also open up opportunities for platform monetization in other ways of the organization. This includes subscription services, content licensing, YouTube channels, merchandise, and e-commerce.
Founded in 2011 by Damien Tivolle and Vlad-Matei Mladin, Icy Veins is widely recognized as one of Activision Blizzard's largest independent fan communities. The platform provides strategic guides and news on franchises such as World of Warcraft, Diablo, Heroes of the Storm, Hearthstone, and Overwatch.
Enthusiast Gaming announced that following the successful acquisition, Damien Tivolle and Vlad-Matei Mladin will continue to operate Icy Veins.