RightBridge Ventures AB acquires majority stake in KNACKS – Esports Insider
Esports-focused venture capital company RightBridge Ventures AB has acquired a majority stake in esports marketing and talent management agency KNACKS.
RightBridge now owns 62% of KNACKS, with the option to increase its ownership to up to 65% in the future. As part of RightBridge, KNACKS will continue to grow its operations in Asia, Latin America and Northern Europe.
RELATED: Knacks expands talent agency services into international markets
RightBridge Ventures is the majority stake owner at esports organisation Team Singularity, and a number of other esports-focused companies such as the ESPL, esports team Lilmix Esports, and advisory company 1337 Esports. KNACKS, an esports marketing and talent management agency, is the latest addition to its portfolio.
RightBridge Ventures claimed in a release that one of the reasons for acquiring KNACKS is that the marketing agency is “one of the few esports companies that have shown profitable growth during the last three years in a row”. KNACKS includes over 40 esports talents and serves over 16 markets in Europe. The company is also working on metaverse project
RightBridge Ventures CEO, Carlos Barrios, said: “We are so lucky that KNACKS has decided to be part of RBV! The acquisition of a majority stake in KNACKS is a milestone in RBV investment strategy: it provides great synergies to accelerate the value growth of RBV portfolio assets such as ESPL, Lilmix, TeamSingularity, or KnotOK, and contributes with key competence to build the infrastructure of the Metaverse.”
RELATED: Team Singularity relaunches academy project, expands into new titles
Dawid Szymański, CEO of KNACKS, said: “We have created a great team of esports enthusiasts who actively use their knowledge and skills to act with esports talents. When establishing in 2018, I did not expect that in such a short period we would be able to attract players and brands.
“Our talents are able to generate millions of reach for specific brands and, most importantly for us, under our wings players achieve even better results and find excellent organizations to play.”
Esports Insider says: It is interesting that KNACKS has reportedly remained profitable despite the pandemic, and seems to be growing quickly. The acquisition is a great step for RightBridge — the company can now count on KNACKS to help grow its teams and other ventures in esports.
Read The Esports Journal
Source: Read Full Article