EDGE
Book a demo

All Updates

Filter
M&A
Engine Gaming and Media announces divestment of esports platform UMG
Esports
Jun 22
This week:
Funding
Esports tournament platform Regression Games raises USD 4.2 million in seed funding
Esports
Yesterday
Earnings/results
Allied Esports reports marginal improvement in losses in Q2 2022
Esports
Yesterday
Earnings/results
FaZe Clan reports improved adjusted EBITDA in Q2 2022 financial release
Esports
Yesterday
Last week:
Earnings/results
Super League Gaming beats analyst estimates in Q2 2022; profitability still elusive
Esports
Aug 11
Earnings/results
OverActive Media’s adjusted EBITDA losses double in Q2; moderate revenue growth unable to offset operating expense spike
Esports
Aug 10
Management news
Enthusiast Gaming announces changes to its management team and board of directors
Esports
Aug 8
Earnings/results
Skillz reports increased attrition in Q2 2022; announces 30% downgrade on full-year revenue guidance
Esports
Aug 3
Funding
Players’ Lounge raises USD 10.5 million in Series A funding
Esports
Jul 28
M&A
Misfits Gaming Group sells League of Legends franchise slot to Team Heretics
Esports
Jul 27
Partnerships
Guild Esports announces sponsorship agreement with Coca-Cola
Esports
Jul 21
M&A
OpTic Gaming acquires streamer monetization tool Botisimo
Esports
Jul 20
Funding
XSET raises USD 15 million in Series A funding
Esports
Jul 19
M&A
Sony acquires esports tournament platform Repeat.gg
Esports
Jul 18
Management news
100 Thieves lays off content team members
Esports
Jul 14
Funding
Italian esports team organization QLASH raises EUR 2.6 million in seed funding
Esports
Jul 6
Earnings/results
Guild Esports' net losses worsen to GBP 4.9 million in 1H 2022
Esports
Jun 30
Earnings/results
Allied Esports' adjusted EBITDA losses improved to USD 2.5 million in Q1 2022
Esports
Jun 24
Funding
Hypemasters raises USD 3.25 million for its mobile real-time strategy game
Esports
Jun 15
Industry news
Global Esports Federation inks major deal to turn UK’s West Midlands County into esports hub
Esports
Jun 15
M&A
Simplicity Esports exits Brazilian market
Esports
Jun 10
Partnerships
OverActive Media Group expands partnership with Canadian telco giant Bell
Esports
Jun 2
Management news
Wisdom Gaming Group appoints ex-Minnesota Vikings executive as new president
Esports
Jun 2
M&A
eFuse acquires media outlet Esports GG
Esports
May 31
Industry news
Mobile Premier League lays off 100 employees; shuts down Indonesian operations
Esports
May 30
Geographic expansion
Management news
Excel Esports opens new HQ; announces management changes
Esports
May 27
Earnings/results
Allied Esports reduces losses driven by solid revenue growth; closes out 2021 on a high
Esports
May 25
M&A
Simplicity esports sells 20% stake in Brazilian subsidiary
Esports
May 24
Management news
FaZe Clan appoints new president and COO
Esports
May 19
Funding
Virtex raises USD 3.2 million in seed funding for its virtual stadiums
Esports
May 19
Jun 22

Engine Gaming and Media announces divestment of esports platform UMG

M&A

  • Engine Gaming and Media, a Canadian company with interests in esports and gaming, announced its partial divestment of UMG, a tournament platform for competitive esports players, to Harena Data, an esports community aggregation platform.

  • Harena Data will operate UMG’s online business including the studio and media properties under UMG and its social channels. Engine Gaming and Media seeks to focus on its core operations, which include a B2C gaming business, with the divestment. The move is expected to reduce annual cash expenditures by USD 16 million. 

  • Analyst QuickTake : Engine Media was formed as a result of Torque Esports’s acquisition of Frankly Media (a digital media platform) and WinView (a second-screen interactive TV platform) in May 2020. UMG Gaming was acquired by Torque Esports in December 2019 and operates UMG Gaming (an esports tournament platform organizing competitions) and UMG.TV (an on-demand esports broadcasting platform). Engine Media was invested in the esports racing space through the ownership of Eden Games, the Formula 1 mobile racing game developer, which it later divested in April 2022 to Animoca Brands to focus on its core business.

Sign-up for a free trial

Gain access to all industry hubs, market maps, research tools, and more
arrow
menuarrow

By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.