The agreement includes a $10 million cash payment and $12 million in stock, with delayed payments of $7 million and $3.8 million on the first and second anniversaries of the closing date, respectively.
Enthusiast, founded in 2002, is an internet portal that offers over 1,500 casual games. TypeRacer, a browser-based typing game, and Math Games, an educational site for kids aged seven to twelve years old, were among the other brands acquired in the transaction.
The acquisition delivers on Enthusiast Gaming’s buy and build growth strategy and expands the Company’s fan flywheel into casual gaming to own more monthly active users and viewers within the key Gen Z and Millennial demographic.
“I’m excited to announce the acquisition of Addicting Games, a pioneer in casual gaming with nearly twenty years of experience building a loyal audience of gamers,” said Adrian Montgomery, CEO of Enthusiast Gaming. “Addicting Games integrates with existing advertising and subscription revenue streams and unlocks new streams such as in-game purchases and other affiliate-type deals. At the same time, our media platforms and influencers will expand the reach of Addicting Games’ current titles. I look forward to welcoming the Addicting Games team to the Enthusiast Gaming family.”
Since the early 2000s, Addicting Games has helped to popularize casual gaming online, developing and distributing innovative games. Today, Addicting Games features an extensive library of games spanning action, sports, puzzles, and more, with in-app purchases available on many titles.
Games and portals included in the acquisition:
- Addicting Games
- Type Racer
- ioGames Space
- Little BIG Snake
- Math Games
- Plus +1000 instant games
“We’re very excited to join the Enthusiast Gaming family,” said Bill Karamouzis, CEO and Co-Founder of Addicting Games. “Combining Enthusiast Gaming’s scale and expertise with our properties and titles will increase engagement, drive new revenue opportunities and provide the resources to develop new titles and fan experiences.”