Multi-territory commercial and pay-television broadcaster Modern Times Group (MTG) has continued its investment in the eSports market by acquiring DreamHack, Scandinavia’s leading eSports company.
MTG has acquired a 100 per cent stake in the company for an enterprise value of SEK244m (€26m/$28m). DreamHack’s management will continue the business’s development drive.
MTG recently invested in Turtle Entertainment, another leading eSports company that operates the ESL brand. It has also acquired stakes in multi-channel networks Splay and Zoomin as it looks to capitalise on the ever-growing interest in eSports.
“DreamHack is the leading eSports company in Scandinavia and attracts millions of passionate gamers to its online leagues and live events,” Jørgen Madsen Lindemann, MTG president and chief executive, said. “This complements our recent investment in ESL, and reinforces our commitment to video gaming as one of the most-watched and fastest-growing online video categories.
“Our strategy is to invest in relevant, complementary and scalable digital brands, content and communities. We are creating a digital video entertainment ecosystem and eSports is at the very centre of this given its global appeal and huge following.”
DreamHack, a Swedish company, organises numerous events both in Scandinavia and across Europe. It produces and hosts the DreamHack Open European eSports championship, the DreamLeague international eSports league and the eSportsM Swedish national eSports championship.
It has organised events in Spain, Romania, Russia, France and the UK and in 2016 will branch out to stage competitions in Germany and the US.
“MTG’s investment will not only enable us to consolidate our position, but also accelerate the international expansion of our festivals across the globe,” DreamHack chief executive, Marcus Lindmark, added. “Our vision is to make DreamHack the festival of choice for millennials everywhere.
“We have years of experience as an innovative and successful eSports organiser and broadcaster, and of making entertaining eSports content for both traditional and digital media partners. We have been working closely with MTG for the past two years to grow eSports even further, so we know each other well and look forward to taking our cooperation to a new level.”