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German esports and gaming advertising company Freaks 4U Gaming introduced the strategic acquisition of ProGaming Italia, an esports and gaming occasion organizer in Italy and Switzerland, from Recreation.Fin for an undisclosed quantity.
Whereas Freaks 4U now owns ProGaming Italia, the corporate advised The Esports Observer that ProGaming Italia shall be operated similar to a three way partnership, as “amongst each CEOs and all shareholders of Freaks 4U Gaming and ProGaming Italia, the intention has at all times been to forge a strategic alliance as equals.”
ProGaming Italia companions with a number of worldwide esports organizations, recreation builders, and event organizers to ship esports tournaments. Companions embrace Riot Video games with which it companions on nearly all of Valorant actions in Italy and ESL which ProGaming Italia is a long-standing licensee of. As a part of its ongoing licensing take care of ESL, which can be a minority shareholder of ProGaming Italia, the firm’s CEO Daniel Schmidhofer has been appointed as CEO of ESL Italy, Switzerland and Austria.
In March 2021, Freaks 4U Gaming and ProGaming Italia initially entered right into a strategic partnership to develop Italy-targeted Valorant information and content material platform Agent’s Vary Italia.
As a part of the acquisition, Freaks 4U Gaming acquired all shares of ProGaming Italia held by majority shareholder Recreation.Fin, the holding firm owned by Schmidhofer. In return, Recreation.Fin has acquired shares of Freaks 4U Gaming and is now a minority shareholder. Freaks 4U didn’t disclose whether or not Recreation.Fin acquired any extra compensation. Schmidhofer will proceed to guide ProGaming Italia as CEO, whereas additionally assuming a vp place as a part of the Freaks 4U Gaming management crew.
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