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This eSports company just got acquired for $87 million

Fortune

After seeing millions of dollars invested in fantasy eSports and eSports betting sites over the past few months, the first big eSports company acquisition has finally happened.

Swedish media company Modern Times Group has acquired a majority stake (74%) of Turtle Entertainment, the holding company for ESL for $87 million.

Ralf Reichert, CEO at ESL says over the past year they’ve talked to many potential suitors, including large media companies, but they opted to go with MTG because of the company’s understanding of eSports, production background, and distribution network.

Reichert says MTG’s network in over 100 countries, and broadcast sports experience, will help bring ESL and eSports to many more places around the world, while allowing ESL to continue expanding on strong, strategic local partnerships.

Founded in 2000, ESL is the oldest eSports company in the world today. The ESL brand incorporates 20 games across 10 different eSports products. Headquartered…

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