Sweden-based esports organization Ninjas in Pyjamas is merging with a Chinese company called ESV5, with plans to be listed on the NASDAQ, according to a report from Reuters. ESV5 is a joint venture of Victory5 and esports organization eStar Gaming and has investments from Chinese live streaming platform DouYu, among others.
A “source with direct knowledge on that matter” tells Reuters that the companies project “combined revenue of more than ¥400 million RMB (or $61.70 million USD) for 2021” and plan to form a publicly listed company in the U.S. by the end of the year.
NIP currently competes in Counter-Strike: Global Offensive, Valorant, FIFA, and Rainbow Six Siege, among others.
ESV5 is a joint venture of Chinese esports organization eStar Gaming (ES) and Victory Five (V5) based in Wuhan. The organization has two home venues: the LPL Shenzhen stadium for V5, and KPL Wuhan home venue for eStar Gaming. eStar Gaming competed in LPL from 2019-2020. In 2020, Nenking Group acquired eStar Gaming’s LPL franchise and rebranded it to Ultra Prime (UP). Nenking Group is the owner of Overwatch League team Guangzhou Charge.
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