Saturday, November 2, 2024
HomeNewsCounter-Strike: Global OffensiveESL and DreamHack announce merger

ESL and DreamHack announce merger

ESL and Dreamhack today announced that they have merged their organizations.

ESL and DreamHack have announced merging the organisations together under the new name of ‘ESL Gaming’. 

The two esports companies have both been subsidiaries of Modern Times Group (MTG) since 2015 when it acquired them in separate transactions.

The newly formed entity will be led by Co-CEOs Craig Levine and Ralf Reichert while DreamHack CEO Marcus Lindmark will act as the president, DreamHack SVP, project, and event operations.

“Through maximum cooperation and collaboration, and the melding of some of the best creative and visionary gaming minds in the industry, we will, together, continue to advance the innovation that drives this space via the most exceptional products and events,” Levine said.

“For our partners, there will be more opportunities to engage with us through a wider range of activations across all levels of esports, and all aspects of gaming. And for our fans, it means we will offer one of the most expansive esports and gaming lifestyle portfolios available.”

Lindmark added that the intent is to continue to grow DreamHack’s events.

“With ESL, we will be able to offer a more tailored approach for both our community and our partners across all regions through an array of gaming and esports opportunities, all while creating impactful and memorable experiences. The future of gaming is now, and we are excited to create the future together,” Lindmark said.

An ESL Gaming representative confirmed for GamesIndustry.biz the organization will have layoffs.

“Unfortunately, there will be a small number of personnel changes in both size and scope,” the representative said. “However, these changes are not a result of the merger but are a result of organizational restructuring following an optimized operating model. Regretfully, in light of the global pandemic and the challenges that have come with it, many businesses are currently facing difficult decisions and this is no different from ESL Gaming – this is something we do not take lightly. Our staff is family, and we will do all we can to support everyone affected during this transition.”

Earlier this year, MTG warned investors that the COVID-19 pandemic could undercut its esports revenues in the first half of the year by as much as 45%.

The company wound up outperforming that, with esports revenues for the first half of the year ultimately down 18%.

The merger also comes just weeks after MTG Group had a change in senior leadership, with CFO Maria Redin leaving that role to take over as the company’s new CEO.

What’s your opinion on the ESL and DreamHack merger? Let us know in the comment section below.

Also Read: What does it take to become an esports star?

Pranav Nalawade
Pranav Nalawadehttps://www.talkesport.com
Pranav Nalawade is a distinguished author known for his exceptional expertise in the dynamic world of Esports and gaming. With a keen eye for detail and a deep passion for the gaming industry, Pranav has established himself as a reputable authority in the field. His insightful writings on Esports news and gaming guides are widely acclaimed for their comprehensive analysis and valuable insights. As a dedicated writer, Pranav Nalawade possesses a profound understanding of the gaming landscape, which is evident in his well-researched and informative articles. His ability to capture the latest developments in Esports and gaming, coupled with his talent for crafting engaging and authoritative content, sets him apart as a trusted voice in the gaming community. Pranav's unwavering commitment to delivering accurate and compelling content has garnered him a loyal following of readers who rely on his work for valuable information and expert commentary. Through his in-depth knowledge and unwavering dedication to the gaming industry, Pranav Nalawade continues to elevate the credibility of his writing, making him an indispensable resource for Esports enthusiasts and gaming aficionados alike.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments