SEGG Media has acquired transmedia company GXR (GXR Racer Holdings Limited) for $10m (~£7.5m) to deepen its expansion into esports and sports fan engagement.
According to a press release, the GXR video platform and SEGG Media’s Sports.com app will integrate to launch the Sports.com Super App, a digital ecosystem for the ‘modern sports audience’.
SEGG Media is a global sports, entertainment, and gaming group operating digital assets, including Sports.com, Concerts.com, and Lottery.com. With its second acquisition in July, following the purchase of Concerts.com, the conglomerate has bought all of GXR’s technology assets as well as its current user base of more than 1m.
Moreover, GXR Founder and Chief Executive Officer (CEO), Paul Roy, will become the Director of NewCo, a newly formed entity that will house the Sports.com Super App. This new product aims to capture the entire lifecycle of sports fan engagement by combining live-streaming, community chat hubs, stats-based social media, e-commerce, real-money and fantasy sports gaming, real-time translations and sports news.
Revenue will be generated through premium subscriptions, in-app advertising, merchandise sales and gamified challenges. With a phased global launch planned for Q3 2025, the app has already signed its first commercial and broadcast partnership with India’s Super League Kerala.
Additionally, SEGG Media is still negotiating with other premier sports leagues across Latin America, the Middle East, Africa, Europe and Asia to acquire exclusive regional streaming and gaming rights.
“Acquiring the GXR platform and adding Paul Roy to the team allows us to accelerate our mission to deliver the world’s first fully immersive, unified sports and entertainment media app. This is all about execution and the market is now seeing that SEGG Media is delivering,” commented Matthew McGahan, Chairman and CEO of SEGG Media.
SEGG Media’s Esports Expansion
The acquisition of GXR also enables SEGG Media to elevate its esports investments. Through innovative features in the Sports.com Super App, the company strives to bridge traditional sports engagement with gaming-native audiences.
Last month, SEGG Media already invested heavily in global racing and gaming media network Veloce as part of its strategy to become “the home of immersive sports and next-generation media”.
Similar to Veloce, GXR operates an esports division. Its Galaxy Racer esports property merged with Emirati organisation Team Nigma in 2021 to form Nigma Galaxy. However, SEGG Media has yet to clarify how its acquisition of GXR might affect the company’s current esports ventures.
Additional information about the transaction is set to be released by August 5th via SEGG Media’s Form 8-K.
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