U.S. based esports organisation Simplicity Esports has signed non-binding letters of intent to acquire five franchisee-owned esports centres.
The acquisitions are due to be closed by October 30, subject to due diligence, execution of definitive agreements, and completion of leases with improved terms with the respective landlords.
The latest acquisitions come amid a period of rapid activity from Simplicity Esports. Revenues of the newly acquired esports and gaming centres along with the company’s other recent purchased combined for a total of over $2M (~£1.533M) in 2019.
Other recent moves include selling off a portion of its Brazilian venture, Flamengo Esports, and securing a franchise spot in Riot Games‘ newly franchised Brazilian League of Legends competition CBLoL.