Ole Gunnar Solskjær joins ULTI Agency, OverActive Media raises $40m | ESI Digest #38

Each week, ESI Digest breaks down the weekly happenings in the esports industry, making sense of things so you don’t have to. As well as being housed on YouTube, ESI Digest is available on all major podcast platforms and is also available in written form below.

On this week’s ESI Digest we cover, Ole Gunnar Solskjær and Jim Solbakken becoming owners of ULTI Agency, OverActive Media’s $40m investment, Enthusiast Gaming looking to list shares on NASDAQ, Epic Games raising $1bn, and the University of Kentucky (UK) joining forces with Gen.G to launch an international esports exchange programme in South Korea. 

This edition of the ESI Digest is in partnership with RocketReel, powered by Reely.ai. 

Ole Gunnar Solskjær and Jim Solbakken become ULTI Agency owners

Ole Gunnar Solskjær, the manager of Premier League football club Manchester United, and sports agent Jim Solbakken have signed an agreement to become owners of Norwegian esports company ULTI Agency.

According to the release, both Solskjær and Solbakken will acquire 12.5 percent stakes in the company each through their respective companies, Grip Management AS and Sir Solution AS. Financial details regarding the investment have not been revealed.

OverActive Media announces $40m investment, Montreal Canadiens joins ownership group

Photo credit: NHL / OverActive Media

OverActive Media, the parent company of MAD Lions, Toronto Ultra and Toronto Defiant, has announced a second close to its private placement, with the firm receiving a total of over $40m (~£29.11m) in funding.  

As a result of the investment, NHL’s Montreal Canadiens has joined OverActive Media’s ownership group. Moreover, Arizona Coyotes’ Phil Kessel and Washington Capitals’ Carl Hagelin have also become the latest in the esports company’s growing contingent of owners who are professional athletes.

Epic Games closes $1bn funding round led by Sony

Epic Games
Photo credit: Epic Games

American games publisher Epic Games has announced the closing of a $1bn (~£727m) funding round, bringing the company’s equity valuation to $28.7bn (~£20.87bn).

Sony Group Corporation led the funding round with an investment of $200m (~£145.4m). Other investors include Appaloosa, Baillie Gifford, Park West, KKR, AllianceBernstein, Altimeter, Franklin Templeton, and Luxor Capital, to name a few.

Enthusiast Gaming announces intention to list shares on NASDAQ

North American esports organisation Enthusiast Gaming has announced its intention to list shares on the NASDAQ, as the company aims to expand its shareholder base and increase development.

As such, the organisation, which owns Luminosity Gaming, Overwatch League franchise Vancouver Titans, and Call Of Duty League side Seattle Surge, has filed a Registration Statement on Form 40-F with the United States Securities and Exchange Commission (SEC).

University of Kentucky, Gen.G and ISA join forces to launch student exchange programme in South Korea

KHSAA E-Sports Championship on January 30, 2020. Photo by Pete Comparoni | UKphoto

The University of Kentucky (UK) has joined forces with esports organisation Gen.G and scholar association International Studies Abroad (ISA) to launch an international esports exchange programme in Seoul, South Korea. 

Starting this May, the programme will offer students a four-week stay at Hanyang University or Korea University.

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ESI Digest, in partnership with RocketReel, powered by Reely.ai, is part of the ESI Network, a collection of podcasts encompassing the esports industry. For deep dives into the major areas of esports with subject matter experts, check out ESI Focus. For conversations with key personnel and major stakeholders in esports, ESI Insight is the series for you.