News Profit's Takes

Ninjas In Pyjamas Agrees To Merger With ESV5

It is currently being reported that Ninjas in Pyjamas has agreed to a merger with the Chinese esports organization ESV5. According to the Reuters report, the newly-formed entity has plans to be listed on the NASDAQ market by the end of this year.

If the merged entity is listed on the NASDAQ market, it will be the first publicly traded esports team in the United States. The organization said its projected combined revenue for 2021 would be roughly $61.7 million.

Both Ninjas in Pyjamas and ESV5 were reached out to for comments. Neither organization has made a public statement on the reported merger at this time.

ESV5 is a joint esports venture between eStar Gaming and Victory Five. The company currently has two gaming facilities located in China.

The Profit‘s Take:

A lot of cash-burning esports teams will likely see public markets as a viable option to raise capital. As a result, I expect to see a lot of industry consolidation over the next few years as teams aim for scale.

(All information was provided by Reuters and The Esports Observer)

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