Mail.Ru Group acquires ESforce

Monday 22 January 2018 | 16:03 CET | News

Russian internet company Mail.Ru Group has fully acquired ESforce, the largest ESports company in Russia and eastern Europe. The transaction was signed on 19 January and is expected to close in the first quarter of this year, subject to third party approvals. 

Mail.Ru Group will acquire the company in an all cash transaction. The purchase price will be USD 100 million, including all debt. Mail.Ru Group will fully consolidate ESforce and will disclose all results on a pro-forma basis going forward to allow like-for-like comparison. 

Mail.ru is acquiring the business from Anton Cherepennikov and from Highland Falls Investment. Vladimir Streshinskiy has abstained from voting as an interested director. An independent committee of the board was formed to oversee the acquisition process and to advise non-interested directors. The committee received third party assessments from both Deloitte and Morgan Stanley. The transaction has been approved by all non-interested and independent directors.