- X1 Esports is a media and gaming company with a portfolio of diversified assets targeting different aspects of the video game and creator economy industries.
- The company plans to continually increase revenue through M&A, organic growth, and increased synergy between its assets.
- Term sheets have been signed to acquire Tyrus.TV and Shift RLE to potentially form a well-rounded portfolio that includes a competitive gaming team, an influencer management company and a media news and fantasy sports organization, respectively.
- A strong corporate management team leads the company with experience in corporate management, finance, and media management.
- X1 Esports acquired Tyrus LLC to expand reach into Gen Z demographic and add additional revenue streams.
- X1 Esports closed the acquisition of the assets comprising ShiftRLE ("Shift"), an online news outlet focused on the popular video game, Rocket League.
Esports has quickly grown from a niche market to a mainstream phenomenon. The term “esports” describes the competitive gaming industry in which individuals or teams will compete against each other. Some of these competitions are remote, while others are in-person in massive venues filled with professional gamers. Surprisingly, major esports competitions have earned more viewership than many traditional sports, catapulting the market into a US$11 billion industry. Moreover, the esports industry isn’t going away anytime soon. Significant gaming and internet media companies have joined in, including Apple (NASDAQ:AAPL), Activision-Blizzard (NASDAQ:ATVI), and even Netflix (NASDAQ:NFLX).
However, industry experts generally agree that esports as a stand-alone business just doesn’t work. While some disagree, most esports companies have begun diversifying their offerings to monetize this new phenomenon further. The new dominant view is that esports is more of a customer acquisition journey for other assets. As a result, companies with a robust esports-related portfolio are setting themselves up for substantial growth as the industry continues to explode.X1 Esports (CSE:XONE) is a gaming and media company with a diversified portfolio of assets. that includes companies in media, networks and agency services. The company plans to continue to increase revenue through mergers and acquisitions targeting cash-flow-positive companies. Additionally, X1 Esports will continue to build upon its existing portfolio with organic growth and accretive M&A.