Esports Platform company PiiK Games becomes part of the Victory Square Technologies portfolio
...Vancouver-based accelerator specializing in emerging technologies reinforces its strong presence in the esports and video gaming sectors
VANCOUVER, BRITISH COLUMBIA, CANADA (March 26, 2019) – As part of its strategic focus on high-upside sectors such as esports and emerging technologies such as Blockchain, Machine Learning, AI and VR/AR, Victory Square Technologies Inc. ("Victory Square" or the "Company") (CSE:VST) (OTC:VSQTF) (FWB:6F6) today announced the acquisition of esports platform developer PiiK Games.
“We see this acquisition as being the perfect fit in our overall portfolio of more than 20 tech companies and as a natural complement to our existing investments in the gaming sector,” said Shafin Diamond Tejani, CEO of Victory Square Technologies. “We certainly anticipate to benefit from the eSports sector’s massive year-over-year growth. We believe PiiK’s highly experienced management team and their strong track record in the e-gaming space makes this portfolio addition a great fit for our focus on the sector.”
Tejani also noted that the acquisition of PiiK gives Victory Square the opportunity to incubate an early-stage local Vancouver company as an in-house product.
The eSports industry is migrating from niche to mainstream with a record-breaking year in 2018, one that has stoked the flames of bullish investor sentiment supported by growth continuing through 2019 including:
- Apex Legends has had 50 million players join the game in its first month (1)
- Fortnite player count reached concurrent player count of 10.7 million (2)
- 48% year-over-year growth industry growth (3)
- By 2021, revenues could reach $1.65 billion (4)
- World-championships finals for League of Legends (top esports game) attracted 74 million viewers in 2018 - significantly higher than the NBA finals (5)
- $130 million in prize pools paid out in 2018 (6)
- Iconic sports names—from the New York Yankees and Houston Rockets to Robert Kraft and Magic Johnson—have bought in, along with Overactive Media in Toronto and Canucks Sports & Entertainment in Vancouver (7)
A veteran in the gaming industry, Mui organized Canada's first mobile esports event at the Bell Centre in Montreal. Previously, Ted has held positions at large gaming giants such as Zynga in China and Roadhouse Interactive in Canada before launching his first start-up in mobile eSports in 2015.
PiiK’s planned platform and tools for the eSports ecosystem, targeting casual and competitive players, will add great value to the market.
Victory Square plans to build on its growing gaming portfolio represented by V2 Games, a streaming business that generates royalties by investing in gaming projects. The company financed the production of successful titles such as PAC-MAN Bounce (over 20 million downloads) and Pacific Rim: Breach Wars, and continues to earn royalties from the projects. (8)
Taking into consideration that most valuable esports companies (Riot, Valve, Epic) are all game publishers (League of Legends, Counter Strike, Fortnite). Combining V2 Games and PiiK Esports brings together the right industry experience as well as hands-on video game skills and expertise to build towards becoming a successful eSports market leader to further capitalize on rapid-growing opportunities in the $100 Billion gaming market. (9)
For further information about the Company, please contact:
Investor Relations Contact - Alex Tzilios
Media Relations Contact –Howard Blank, Director
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square Technologies (VST) is an accelerator with 20+ portfolio companies focused on emerging technologies such as: Blockchain, Machine Learning, Artificial Intelligence and VR/AR. We have a proven process for identifying and investing in extraordinary start-ups who are working on innovative and disruptive projects in every sector of the global economy, including Finance, Health, and Esports. We use our experience, expertise and resources to help grow and scale these portfolio companies, which results in explosive returns for VST and its shareholders. For more information, please visit www.victorysquare.com/.
ABOUT PiiK GAMES
The team at PiiK Games who enjoy extended experience, strong eSports track record, is currently working on a stealth product that will introduce a new way for casual and amateur gamers alike to compete, participate, and engage in live eSports events. Esports events and competitions is one of the fastest growing sectors within esports, and is expected to reach a global audience of over 400 million by 2020. The team at PiiK Games who enjoy extended experience, strong eSports track record, is currently working on a stealth product that will introduce a new way for casual and amateur gamers alike to compete, participate, and engage in live eSports events. ESports events and competitions is one of the fastest growing sectors within eSports, and is expected to reach a global audience of over 400 million by 2020.
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