Gfinity plc’s £5 Million Acquisition Of Megit Limited

Schofield Sweeney advised Megit Limited on the deal.

Market-leading esports and gaming provider Gfinity plc has completed the acquisition of Bristol-based Megit Limited for an initial consideration of £5 million, comprising £2.5 million in cash and £2.5 million in new ordinary shares in the company.

Megit Limited owns the website Stock Informer, a highly profitable e-commerce referral site for gamers and their lifestyles that operates in the UK and US. Stock Informer will be embedded into the Gfinity Digital Media division.

AIM-listed Gfinity’s strategic focus is on the growth and monetisation of the products and services they own, co-own and deliver for others. They have a fast-growing community of gamers on their six websites – Gfinityesports.com; Realsport101.com; EpicStream.com; RacingGames.gg; MtgRocks.com and StealthOptional.com, reaching up to 14 million users each month and deliver over 60 million monthly impressions on their social channels.

Megit Limited was advised by Ben Jackson (Picture) at Schofield Sweeney, Louise Wroe at GBAC Chartered Accountants and Keith Silman at High Royd Business Services.
 

Involved fees earner: Ben Jackson – Schofield Sweeney Solicitors;

Law Firms: Schofield Sweeney Solicitors;

Clients: Megit Limited;

Giulia Di Palma

Author: Giulia Di Palma