The Swedish esports team Red Reserve Esports goes public – Community Entertainment (publ) new owner
Battleriff Gaming AB has signed a LOI meaning that Battleriff sells its subsidiary Red Reserve Esports to a public company, listed on the Swedish stock exchange Aktietorget named, Community Entertainment Svenska AB, “CEAB”. Red Reserve Esports is a well-known international brand for esports teams. CEAB ́s business focus is gameification through different quiz products. There are obvious synergies between the companies.
The purchase is made through new issued shares in CEAB whereby Battleriff becomes one of the main owners of CEAB controlling 40 % of the shares. Red Reserve will continue to cooperate with Battleriff and assist them with marketing efforts related to the games that are displayed on Battleriff ́s virtual gaming platform. CEAB has a variety of large Swedish companies as customers as for example Svenska Spel, Swedish Railway, Assa Abloy, Aftonbladet etc. CEAB ́s products are marketed through its subsidiary Million Mind AB.
Torbjörn Vinsell, CEO Battleriff AB:
– The planned deal with CEAB gives Red Reserve the opportunity to expand on its own
merits in a listed environment which creates conditions for greater and faster growth.
Battleriff will still collaborate with Red Reserve and take part Red Reserve ́s value growth
through our shareholding. Win-win for both parties.
Olav Törnblom, CEO of CEAB:
– Red Reserve is a well-known trademark within the esports world. I think that many of our
existing customers will find it interesting to reach out towards the esports communities where
Red Reserve is active which will bring new sponsors to Red Reserve and broaden our
products. Gamification is also an interesting tool for game publishers and other actors in the
esports eco system, comments Olav Törnblom, who recently assumed the position as CEO of
För ytterligare information:
Torbjörn Vinsell, CEO Battleriff AB, tfn +46 (0)709 39 58 08, email@example.com
Olav Törnblom, CEO, Ceab AB, tfn +46 (0)70 219 04 06 firstname.lastname@example.org
Patrik Andersson, CEO Red Reserve AB, +46 (0)769-47 73 66, email@example.com