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Sports betting media group Better Collective has acquired HLTV.org ApS for a total purchase price of €34.5M EUR ($37.9M USD). Among the acquired company’s assets is HLTV.org, an esports platform that features news, statistics, and discussion forums for Counter-Strike: Global Offensive.
The site is best known for operating the game’s premier global rankings, which are used by tournament organizers throughout the world to seed tournaments. Due in part to CS:GO’s lack of a single global world championship event, ending a season ranked first in HLTV’s rankings is considered a significant accomplishment in the scene. According to a release, the website sees over 26.5M visits per month on average
HLTV.org’s business model primarily relies on the promotion and advertising of esports betting operators. According to its 2018/2019 income statement, the company generated €4.4M ($4.8M) in revenues during its financial year from July 1, 2018, to June 30, 2019.
Of the total €34M purchase price, €26.4M ($29.1M) will be paid upfront through a combination of cash (€23.7M or $26.1M) and shares of Better Collective A/S (€2.7M or $3M). The final €8.1M ($8.9M) has been structured as three distinct payments to be paid out over the course of the next three years. These payments will be subject to the platform reaching predetermined financial performance criteria, the details of which were not disclosed.
HLTV.org’s founders will continue to manage day-to-day operations “for at least three years to ensure the continued strong development of the platforms and communities.”
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