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Microsoft acquires esports platform Smash.gg to boost its gaming segment

Microsoft acquires esports platform Smash.gg to boost its gaming segment
Jordan
Major
2 years ago
2 mins read

Microsoft (NASDAQ: MSFT) has acquired esports tournament platform Smash.gg in another expansion plan for its gaming segment. The two companies have not confirmed the value of the deal. 

The acquisition was announced through a Twitter statement from the Microsoft Esports account. According to Microsoft, fans should expect more support and opportunities. 

Smash.gg also confirmed the acquisition through another Twitter post. According to Smash.gg:

“With this acquisition, the Smash.gg community and tournament organizers will continue to benefit from the Smash.gg platform, while our team will now benefit from additional resources and support as part of the Microsoft Content Services team. For now, it’s business as usual as our combined team continues to support our community and tournament organizers. We’re excited about this acquisition’s potential to empower the esports community further and expand Smash.gg’s reach and scale.”

Currently, Smash.gg claims to support over 6,000 active events. 

Microsoft’s rising gaming segment

Microsoft seeks to build on its positive image in the gaming scene build through the Xbox platform. However, Microsoft’s gaming image took a turn after the company decided to shutter its Mixer live streaming platform earlier in 2020.

Recently, the Microsoft gaming revenue surpassed $11 billion even as the company seeks to hit three billion gamers. Notably, the revenue got a boost from the Game Pass subscription service, which saw fans access content from different studios. 

Smash.gg has five years in the industry with headquarters in California. According to the company, its goal is to build an active esports scene globally. 

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Jordan Major
Author

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.

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