Enthusiast Gaming completes acquisition of Icy Veins

Canadian esports company Enthusiast Gaming has announced the completion of the acquisition of Vedatis, owned by Icy Veins, a platform dedicated to guides for games from Activision Blizzard, including Hearthstone, World of Warcraft, and Overwatch. It is noted that the deal amounted to € 7 million. The founders of Icy Veins, Damien Tivoll and Vlad-Matei Mladin, will remain with the company.

Note that 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.

Following the completion of the transaction, the company made a cash payment of € 3,500,000 and issued 226,563 ordinary shares in the capital of the company for a total of € 5,000,000. Note that the purchase amount may change, since the agreement contains certain conditions that may affect the total amount of the sale.

The acquisition is expected to increase Enthusiast Gaming's revenues and margins and demonstrate the ability to increase monetization through the company's proprietary mechanisms, which include YouTube channels, subscription-based content licensing 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.