Entertainment and technology company ESE Entertainment Inc. (ESE) has entered into an asset purchase agreement with the owner of K1CK Esports Club, Pedro Fernandes.
The deal will see ESE acquire all assets “relating to, and required for, the continued operation of K1CK”.
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The European organisation was founded in 1998, and has fielded numerous teams across a wide variety of titles.
K1CK is already integrated into ESE’s structure through the licensing and management of its professional teams. However, with ESE acquiring the intellectual property of the organisation, it is said that the company will be able to “rapidly scale and increase the value of the K1CK brand on a global level.”
Konrad, Wasiela, CEO of ESE, commented on the acquisition: “K1CK Esports is a brand that is recognised and respected globally. Finalising the acquisition of K1CK’s intellectual property will allow us to focus on continuing to build the next big esports brand. We hope that with the additional infrastructure ESE can provide, K1CK will become a tier one brand that will be in the same conversation as the Cloud9, FaZe Clan and G2 Esports of the world.
“Our core focus is to continue building our fan base and engaging with the esports community. ESE will also invest in technologies that will allow K1CK to scale its monetisable assets globally.”
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As per the agreement, ESE will pay Fernandes aggregate consideration of C$ 207,500 (~£119,608).
Fernandes also spoke on the deal: “This is another big step in K1CK’s long-lasting journey towards excellence. Having access to technologies and creating infrastructures with ESE will support the brand’s rise to leadership positions in the global esports market. This is exactly the right opportunity and fit we have been looking for, and undoubtedly a great moment for K1CK.”
Esports Insider says: As one of the longest-standing esports organisations in existence, this deal will secure the future of K1CK for the foreseeable future. Ambitions for ESE and the organisation are certainly high, so it will be interesting to see how the organisation expands in the coming months.
Read the original post: ESE Entertainment enters asset purchase agreement for K1CK Esports Club
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