Nasdaq-traded esports community and content platform Super League Gaming announced Thursday that is in the process of acquiring live streaming technology platform Mobcrush. Super League Gaming expects the transaction to close as early as its second fiscal quarter of 2021, subject to customary closing conditions and regulatory approvals, including shareholder approval.
The acquisition is planned as an all-stock transaction, with Mobcrush Streaming Inc. merging with wholly-owned Super League Gaming subsidiary SLG Merger Sub II Inc., which will result in Mobcrush becoming a wholly-owned Super League Gaming subsidiary. In total, Super League Gaming will issue 12,582,204 of its common stock as the merger consideration. Considering the $5.08 USD market close share price of Super League Gaming on Wednesday, the acquisition would roughly be valued at $64M. At the time of this writing, Super League Gaming’s share price temporarily jumped above $7 per share during pre-market hours on Mar. 11.
Santa Monica-based Mobcrush, which has raised almost $36M in disclosed investments since its inception in 2014, develops live streaming technology, including a proprietary artificial intelligence driven gameplay highlights software. Mobcrush also owns Mineville, one of six official Microsoft Minecraft partner servers, which will complement Super League Gaming’s Minecraft community Minehut.
Super League Gaming revealed that it anticipates the acquisition “to be accretive and enable Super League to take a significant leap forward in providing brands, advertisers, and other consumer facing businesses with massive audience reach across the most important engagement channels in video gaming – competitive events, social media and live streaming content, and in-game experiences.”
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