The eSports tournament platform, Smash.gg, was acquired by Microsoft; check the details.
Earlier this week, it was reported that the eSports tournament platform, Smash.gg, was acquired by Microsoft. The deal will be another attempt by Microsoft to grow its name within the eSports industry. In June of this year, Microsoft had already closed Mixer - a streaming portal - and entered into a partnership with Facebook Gaming itself to expand its reach, after the service did not meet Microsoft's expectations.
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Smash.gg has been active since its launch in 2015. The platform, which includes several eSports competitions, such as Call of Duty and Super Smash Bros, has gained enormous notoriety within the gaming world.
In 2017 alone, Smash.gg had already financed Series A (Spark Capital), Accel and Horizons Ventures, with a withdrawal of US $ 11 million. In addition, investment initiation followed after Spark, Affeinated Capital and Lowercase Capital, made an investment of US $ 3 million.
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For now, the amount financed under this agreement with Microsoft has not yet been revealed, but Smash.gg reported on its official Twitter that the acquisition would continue to benefit the community and tournament organizers, saying that they "will continue to benefit from the platform Smash.gg". In addition, the company has confirmed that it will also benefit from "additional resources and support as part of the Microsoft Content Services team."
Continuing, Smash.gg said that: "We are excited about the potential of this acquisition to further empower the eSports community and expand the reach and scale of Smash.gg". Thus, the new agreement will also include the xCloud gamer streaming service.
