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The transaction marks a pivotal move in the esports small-cap space, merging Torque Esports with UMG Media’s esports events.
Torque Esports (TSXV:GAME), formerly Millennial Esports, announced that it plans to acquire UMG Media. The transaction will combine UMG Media’s online and live esports operations with Torque’s esports racing and data services. Torque runs a gaming studio in Lyon, France and a data division in Barcelona, Spain.
As quoted in the press release:
The combination of Torque and UMG will create a significant esports company that has operations in a number of the key verticals of the industry, including racing, first person shooter, and sports titles. Torque’s strong presence in the racing vertical, combined with UMG’s ability to host daily cash play through its proprietary platform, will allow Torque to expand its offerings to not only its own users, but also to the user base of UMG.
“UMG is thrilled to join forces with Torque to build a broader esports company,” stated Dave Antony, CEO of UMG. “We are confident the combined expertise of the groups will ensure future success.”