ESE Sells Majority Share in GameAddik

Mergers and Acquisitions Business

21 August 2023 17:55

ESE Entertainment sold its 70% share in GameAddik to Blackpine. ESE will receive $9.1m. The company will retain its 30% share for now. Konrad Wasiela, CEO of ESE, commented, "We are excited to finalize this strategic transaction with BlackPines and to collaborate with Darren Huston and his team. This step is key in our commitment to maintain a position of strength while minimizing dilution and increasing shareholder value. We are also retaining a 30% stake in GameAddik, which underscores our belief in its long-term potential in its future success. In addition, we are going to aggressively roll into the next phase of our business growth, which includes focusing on the growth of our core assets. We have a clear plan and are ready to get to work on executing."

Tags: ESE

Share: