On April 22nd, The Gaming Stadium announced they had acquired fellow Canadian esports endeavour Even Matchup Gaming at the tune of 1.1 Million Canadian Dollars (880k United States Dollars). TGS is the first esport stadium in Canada but also produces and organizes events for schools and organizations. Given the recent limitation of the pandemic, they have been producing various online-only experiences but seem very keen to get back to the offline space. For their part, EMG has been the premier Canadian Smash organizers, with GOML winning the Best Canadian Esports Event in September of last year.
In their press release, TGS claims that EMG has been able to gather over $300.000 in revenue in 2019 and that TGs expects this number to grow thanks to them. The acquisition of EMG is not a straight-up cash transaction. Instead, TGS essentially bought five and a half million shares of EMG at CAD 0.20 per share. These shares are in a contractual lock-up as well for between 24 to 36 months. This means TGS will keep said shares for their agreed period of time, after which they may choose to sell or hold them.
Of the Acquisition, Joseph Cribari, EMG's CEO, had this to say: