[image credit : Better Collective]
Better Collective has completed the acquisition of HLTV.org Aps for a total price of up to 34.5 mEUR (257 mDKK). The global mega brand HLTV.org is the leading esports platform in the world focusing on the popular game “Counter-Strike: Global Offensive (CS:GO)”.
Better Collective has established a strong position within the esports betting market through the acquisition of an HLTV Aps, which includes the assets HTLV.org and dust2.dk Better Collective pays up to 34.5 mEUR for the brands that are among the most popular Counter-Strike: Global Offensive (CS:GO) platforms for esports enthusiasts.
The purchase price is agreed at up to 34.5 mEUR (257 mDKK) on a cash and debt free basis. Out of the total purchase price, 26.4 mEUR (197 mDKK) will be paid upfront, of which 23.7 mEUR (177 mDKK) in cash and shares of Better Collective A/S with an approx. market value of 2.7 mEUR (20 mDKK) to be issued no later than March 13, 2020. The share price of 90.26 SEK is determined as a weighted average over 10 trading days prior to closing.
The remaining up to 8.1 mEUR (60 mDKK) is structured as three separate earn out payments to be paid out in the coming three years subject to HLTV ApS reaching certain financial performance criteria. At the sole discretion of Better Collective, up to half of the earn out payments can be paid in Better Collective shares.
The new shares to be issued as part of the initial payment as well as any shares paid as part of the future payments will be subject to lock-up periods.
Securing a strong position for Better Collective within the esports industry
Founded in 2002 in Denmark, the esports platform HLTV is the leading CS:GO site in the world, providing news from the esport industry, CS:GO match information and player and team rankings to the global esports audience.