Private equity company Supernova Capital has announced the acquisition of Player1 Events from UK-based gaming retailer GAME. Financial deals of the acquisition were not disclosed.
The deal will see the equity firm be in charge of organising the Insomnia Gaming Festival, a UK-based event scheduled to take place in August 2021. According to the release, the date is dependent on COVID restrictions.
As part of the acquisition, Craig Fletcher, the Founder of Multiplay and the Insomnia Gaming Festival, will lead the festival’s operations along with joining Supernova’s executive team.
Fletcher spoke on the acquisition in a release: “We’ve seen over the last year that the demand for events has been palpably growing, both as interest in esports has grown dramatically, but also people longing to return to the atmosphere of being at a live event.
“By relaunching Insomnia, we will take things to a new level, uniting gamers of all ages, and players of all levels to come together at inspiring live events. We hope to be in a position to make announcements on 2021 events soon.”
Alongside the return of Fletcher, the acquisition will see all of Player1 Events’s staff retained. Staff will work on holding Insomina in 2021, as well as organising other events located in the UK and abroad in 2022 and beyond.
The sale of Player1 Events marks the second acquisition GAME has been involved in during the last two years. In 2020, the retailer sold Belong Gaming Arenas to esports infrastructure company Vindex.
Sarah Hodgson, UK Finance Director at GAME Digital, also commented: “The Insomnia Gaming Festival is a crucial date on the gaming calendar for bringing gamers together to celebrate the games they love. The event has always had a wide appeal and we look forward to seeing what Craig and the Supernova team can do in the future.”
Esports Insider says: The events sector has been hit hard by the pandemic which may have played a role in GAME selling Player1 Events to Supernova Capital. With Craig Fletcher back in charge, and with the backing of the equity firm, the Insomnia Gaming Festival is in safe hands.