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X1 Esports Closes Acquisition Of Assets Of Rocket League Community, Octane.Gg

Oct 04, 2022•about 3 years ago

Acquiring Company

X1

Acquired Company

Rocket League Community

EsportsVideo GamesGaming

Description

X1 Esports and Entertainment (CSE:XONE; OTCQB: XOEEF; FSE: ZI0) (“X1” or the “Company”), a video games and media portfolio company which owns and operates Esports assets and a leading creator economy business is pleased to announce, further to its news release dated September 15th, 2022, it has closed its acquisition of the assets comprising of Octane.GG (“Octane”), an online statistical and news outlet focused on the popular video game, Rocket League.

Company Information

Company

X1

About

X1 Esports and Entertainment is a video game and media portfolio company which owns and operates a growing esports franchise, RixGG. The business of the Company is the competitive playing of video games by teams for cash prizes, and operations ancillary to such competition, such as merchandising and the hosting of tournaments. For more information, please contact: Mark Elfenbein CEO and Director info@X1Esports.com www.X1Esports.com

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed