Millennial Esports has acquired a majority stake in racing publisher Eden Games for €9 million ($10.5 million USD). The Toronto-based esports management and technology firm cited the deal as its attempt to take part in the significant global revenue growth of the competitive mobile gaming industry.

[perfectpullquote align=”right” cite=”” link=”” color=”” class=”” size=””]Millennial Esports acquired 82.5% majority interest in the Lyon-based developer for approximately €9 million ($10.5 million USD).[/perfectpullquote]

Eden Games is a French publisher specialising in racing games, including V-Rally and Test Drive Unlimited. One of its recent titles, Gear.Club, has performed exceptionally well as a free-to-play mobile game, and will be ported to the Nintendo Switch in Q4 of 2017.

To be precise Millennial Esports has acquired 82.5% majority interest in the Lyon-based developer, and will be paying €6.9 million and issuing €2 million worth of common shares of the company to Eden Games’ stakeholder. The acquisition is expected to be completed by October 31, and there will be an option to purchase the remaining shares in Eden Games after one year for €2.15 mlllion ($2.5 million).

Alex Igelman, CEO of Millennial Esports said:

“The acquisition of Eden Games is just another step in Millennial Esports’ larger strategy,” continued Igelman. “Eden is the fourth European based deal we have completed or announced in 2017. We have made a significant investment in esports content and event specialists O’Gaming (Paris), acquired Twitch research group Stream Hatchet (Barcelona) and acquired Motorsport and Gaming group IDEAS+CARS (UK). These investments have enhanced the assets we have built mainly in North America to date.”

Millennial Esports runs an online tournament and community platform, and provides turnkey solutions to game publishers and consumer brands. It also owns and operates a 15,000 square foot, permanent esports arena and studio in Las Vegas. In May of this year, the state of Nevada became the first to officially sign betting on esports matches into law.