Battleriff Gaming AB acquires Red Reserve AB – Gothenburg based esports companies merge
Battleriff gaming AB, based in Gothenburg Sweden, has acquired the esports company Red Reserve for 6 million SEK payable with new issued shares in Battleriff.
Battleriff, which is a virtual esports arena, and Red Reserve will thereby establish a close cooperation where the management can identify obvious synergies which will strengthen the company on the international esports market which has an estimated turnover 2017 of nearly 700 million USD and is expected to reach 1 500 million USD in 2018.
Red Reserve is a well-known international brand within esports. Besides owing and managing professional esports teams in the games COD, (Call of Duty), FIFA and Gears of Wars Red Reserve has a gaming house in Florida populated by 6 “YouTubers/Content Providers” who on full time produce and distribute esports- and COD related content on various social media channels such as YouTube, Twitter, Instagram where they have millions of followers.
– Battleriff will introduce COD on its platform in connection with the COD update in November. The merge with Red Reserve and its reach within the COD community is a vital and strategical step when Battleriff introduces COD. We also think that the acquisition of Red Reserve, on a long-term basis, represents a fantastic opportunity. If you study the investments that are made in esports teams on the international market you can notice a remarkable development and potential. The market price for good teams and players is constantly raising and often reach millions of USD. Understandably, we are most positive to the merge and have high expectations for the future, says Torbjörn Vinsell CEO of Battleriff.
Red Reserve´s COD team won the European championship 2017. For the upcoming season, Red Reserve has recruited a very strong COD team consisting of some of Europe´s top ranked players. The Gears of War team has also been successful during the 2017 with many top placements. The FIFA player “RalleGnaget” won this year’s Gothia eCup FIFA tournament which was arranged parallel to the international soccer tournament Gothia Cup. Red Reserve´s income streams consit of sponsorships, adds, price money, transfer fees and merchandise.
– Battleriff is a virtual esports arena with all the functionality and flexibility needed for a success. The enhanced gaming experience that Battleriff delivers will be met with open arms by the COD community, reflects Patrik Andersson, CEO of Red Reserve with more than 10 years experience of esports and particularly COD.
The main owners include Storytel´s main owner Jonas Sjögren and the Gothenburg based venture capital company Optinator. Other main owners are Magnus Claesson, co-owner of the real estate company CA Fastigheter and Marcus Fransson co-founder and co-owner of the success app Fishbrain.
For more information:
Torbjörn Vinsell, vd, tfn +46 709 39 58 08, firstname.lastname@example.org