Steel Media parent company Enthusiast Gaming has acquired gaming YouTube network Omnia Media from Blue Ant Media Solutions.
The new acquisition gives Enthusiast a gaming platform that attracts 300 million gamers and esports fans every month. As such, this gives the Canadian firm the largest gaming media, esports and entertainment platform in North America.
For 100 per cent of Omnia's shares, the digital media company will pay CAD$16.75 million and 18.25 million of its own shares. Once the transaction is completed, Blue Ant will own around 18 per cent of Enthusiast Gaming.
"We are delighted to share that Omnia Media will be joining Enthusiast Gaming, a move that will solidify Omnia's bright future with the scale and access Enthusiast provides as a publicly-traded company. This transaction is an exciting, new way for Blue Ant to continue its investment in the esports market," said Blue Ant CEO and co-founder Michael MacMillan.
A growing platform
"Omnia is a transformational acquisition for Enthusiast Gaming and adds immediate strategic and financial value to our platform. The addition of Omnia Media positions Enthusiast Gaming as the largest gaming media platform in North America, with more touchpoints to connect gamers to unique content experiences than any other gaming company," said Enthusiast Gaming CEO Adrian Montgomery.
"The combination is on strategy and has many expected synergies with our existing audience and advertising and distribution partners. We look forward to welcoming and working much closer with the Omnia team in LA to continue delivering on our strategic growth drivers."