Russian tech giant Mail.ru has acquired e-sports company ESforce for $100 million.
The all-cash deal will see Mail.ru purchase 100% of the Moscow-based company and has been approved by company directors.
ESforce has 116 million users as of 2017 – mostly in Russia and Eastern Europe – with its revenues for the year expected to around $19 million. The company owns two major e-sports clubs, Virtus Pro and SK, and organises a series of events and tournaments. Its websites, social media channels, and live streams attract 82 million unique visitors every year.
The e-sports market is tipped be worth around $1.6 billion with 300 million users, according to the announcement.
“We are very pleased that the talented team who have been responsible for building this business will all be remaining with the business. We will be looking to leverage our unrivalled position inside of the social networks and gaming in order to drive ESforce to even great success,” said Mail.Ru Group CEO Boris Dobrodeev.