MTG partners with Huya to expand into the Chinese esports market

Sep 02 2019 1 min read

MTG partners with Huya to expand into the Chinese esports market ⚡⚡⚡ Esports and gaming news, analytics, reviews on WePlay! The latest news on WePlay!

Chinese live-streaming platform Huya has signed a strategic partnership deal with Swedish media firm Modern Times Group which will give the former a minority stake in ESL

The deal will see MTG expand into the Chinese esports market by hosting local events there that will be added to ESL's global esports offering. Huya will also receive $30 million worth of primary and secondary ESL shares based on a $425M pre-money valuation. 

We are pleased to establish a close partnership with ESL, which demonstrates Huya’s further penetration into the global esports sector," said Huya CEO Rongjie Dong in a release. "Together with ESL, we are thrilled to bring more world-class global esports content to Chinese gaming enthusiasts.” 

With this deal, Huya becomes ESL's first new shareholder since MTG's initial investment in 2015. This comes on the heels of ESL's Intel Extreme Masters Beijing-Haidian tournament announcement. Owning a minority stake in Huya, Tencent Holdings will now also have shares in ESL as a result of the deal. 

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