Enthusiast Gaming (EGLX) has acquired GameKnot, owner of chess fan community GameKnot.com.
Founded in 2000, GameKnot is a news, strategy and community site for casual and competitive chess players, offering multiple forms of competition via chess tournaments, leagues and ladders. With free and premium subscription offerings, the site also provides resources including lessons and puzzles.
GameKnot currently produces approximately 35 million monthly page views, of which 80 per cent are from registered users.
Enthusiast made the acquisition for US$2.75 million in cash and common shares.
Adrian Montgomery, CEO of Enthusiast Gaming, stated,
"GameKnot has long served as a destination for chess enthusiasts around the world to play, learn and connect. This acquisition is in line with Enthusiast Gaming’s buy and build strategy for gaming communities, responds to growing interest in chess from members of our Luminosity Gaming roster, such as xQc and NickEh30, and capitalizes on recent viewership growth for chess on Twitch."
Enthusiast Gaming is building the largest media and content platform for video game and esports fans to connect and engage worldwide.
Enthusiast Gaming (EGLX) is up by 0.18 per cent and is currently trading at $5.65 per share as of 9:45 am ET.