Enthusiast Gaming (EGLX.T), a media and content platform for video game and esports fans to connect and engage, announced today that it has entered into a definitive agreement to acquire Tabwire. In accordance with the acquisition, Enthusiast Gaming will acquire Tabwire for USD$11 million in cash and stock.
“The announcement of a unifying pan-Enthusiast social network with a premium subscription opportunity for gamers is a defining moment for us as our core GenZ and Millennial audiences have been moving away from traditional social networks and turning to gaming as an alternative…Tabwire marks an important milestone for Enthusiast Gaming to be able to bring Project GG to market later this year. It will provide us with essential data capabilities to deliver our customers a complete social offering with a more targeted, integrated and personalized experience for today’s gamer. This is a meaningful next step towards becoming a technology-powered, media, esports and entertainment company,” commented Adrian Montgomery, CEO of Enthusiast Gaming.
Enthusiast Gaming’s Project GG will essentially allow gamers to register their unique gaming profiles, compare stats, develop meaningful connections, and share content and ideas, according to Mr. Montgomery. The acquisition of Tabwire, which owns TabStats, a website providing stat tracking for a variety of games, enables the Company to integrate these features into Project GG. With this in mind, Project GG is intended to be an all-inclusive platform to facilitate meaningful community engagement.
Tabwire has built gameplay companion tools for popular games like Valorant and Rainbow Six Siege, two of the most popular competitive online shooters. Admittedly, as someone who primarily plays MOBA, RPGS, and singleplayer games, Tabwire slipped under my radar until now. However, over 13 million gamers interact via Tabwire’s platform, generating more than half a billion views in the last year. Tabwire’s TabStats site also provides tracking for games like Apex Legends, Warzone, and even…Among Us? I’m not sure how or why someone would want to track their stats in a game like Among Us, but who am I to judge.
As a self-proclaimed gamer, I have always had my hesitations regarding online subscriptions for stat tracking services. Considering there are hundreds of stat tracking sites online offering their services for free, the feature isn’t exactly revolutionary or groundbreaking. For example, when I am playing League of Legends, a MOBA, I use an app called Blitz which provides real time statistics and recommends the most popular item builds. With this in mind, Enthusiast Gaming is going to need to pull all the stops to make a paid subscription service like Project GG succeed in a community filled with free alternatives.
“We are in a unique position to successfully execute our mission to build a true platform for a game agnostic social network. Our unique vantage point and distribution platform that reaches over 300 million gamers monthly gives us unparalleled exposure to the full breadth of the gaming industry, from publishers to gaming media to influencers and esports teams,” commented Menashe Kestenbaum, Founder and President of Enthusiast Gaming.
However, details related to Project GG are relatively sparse. As such, its difficult to draw any conclusions with regards to what Project GG will actually look like. The platform could potentially offer gamers a service like stat tracking for free with the option of a paid subscription. The paid subscription may include additional unique and exclusive features that could entice gamers to pull out their wallets. Regardless, although I am a little skeptical, I will happily eat my words if Project GG turns out to be something innovative and worthwhile.
Enthusiast Gaming’s share price opened at $8.94 and is currently down to $8.64 as of 10:45AM ET. This indicates that there has been some noticeable change following the news.
