UK video game retailer GAME has announced the purchase of events firm Multiplay which is known for attending the famous Insomnia gaming event.
The buyout has been priced at £20 million, with £12.6 million being paid in cash.
The Insomnia event was originally launched in 1999 and encompasses a range of video game-related activities, including LAN gaming halls, interactive content and eSports tournaments. The event, which is currently held in the Ricoh Arena, Coventry, had an outstanding year in 2014, with a 60 per cent increase in footfall marking it as the UK’s number one gaming festival.
“By acquiring Multiplay we are benefitting from nearly two decades of experience, during which time Multiplay has built an exceptional reputation and leading position in its markets,” he said. “Multiplay has a great management team and a fantastic culture – their passion and enthusiasm for games is infectious. Like Multiplay, our communities are at the heart of our business, and together we will be able to move even faster to grow and develop our services for both gamers and suppliers in the UK, Spain and around the world.”
I imagine this is GAME’s way of entering the PC gamers mindset and hope it will sort its financial woes after the closure of over 200 stores in 2012.