Overactive Media has officially announced the acquisition of KOI and Movistar Riders, a strategic move costing around $5 million, marking a significant shift in the esports landscape.
Integrating Elite Teams and Talents
The merger involves integrating elite teams and assets from both KOI and Movistar Riders into Overactive Media’s portfolio. This includes all esports assets and social media properties, enhancing the company’s reach and influence in the EMEA region.
Key Elements of the Acquisition
- League of Legends: The merger will see the formation of MAD Lions KOI for the 2024 season, subject to Riot Games Inc. and League of Legends EMEA Championship (LEC) approval.
- Valorant: The acquisition secures a place in the Valorant Champions Tour (VCT) EMEA League, with the team to be renamed Movistar KOI, pending Riot Games Inc. approval.
Leadership and Strategy
Fernando Piquer joins OverActive Media as the Director of Strategy, bringing a wealth of experience to the table. Gerard Piqué and Ibai Llanos, significant figures in the esports industry, are set to receive a cash fee for their ongoing services.
The Financials: A Closer Look
The transaction involves the issuance of up to 30 million ordinary shares, with an estimated value of $5.7M per acquisition, based on the closing price of the shares on January 3, 2024. This strategic move is designed to boost Overactive Media’s adjusted EBITDA and add $10 to $12 million in revenue in 2024.
Future Vision and Goals
The acquisition is expected to enhance Overactive Media’s global brand presence, aiming to unite all teams under a single brand by the end of 2024. This includes input from fans and influencers, signaling a new era of fan engagement and brand cohesion.
A Strategic Expansion in Esports Valued at $5M
The acquisition of KOI and Movistar Riders by Overactive Media is a visionary move, set to redefine the esports industry. It positions Overactive Media as a dominant force in the EMEA and Latin American regions, leveraging the strengths of each brand to create a new powerhouse in the world of competitive gaming.