X1 Esports inks “definitive agreement” with Tyrus Talent to acquire 100% of its assets
This is part of a company strategy to reach Gen Z consumers.
Esports portfolio company X1 Esports and Entertainment Ltd. has signed a “definitive agreement” with Tyrus to acquire its assets. Tyrus is a social media influencer management firm and has been working with content creators since 2017.
Under the terms of the deal, X1 intends to “acquire 100% of the issued and outstanding membership interest of Tyrus.” The purchase agreement’s total consideration amount will be for up to $350,000.
X1 currently owns and operates RixGG, a growing esports franchise.
X1 CEO Mark Elfenbein said: “The Tyrus platform expertly bridges the gap between international brands and the gaming ecosystem.
“The addition of the company to our portfolio will help to establish X1 as an advertising sales organization with access to some of the most sought-after content creators in the video games category.”
Tyrus CEO Amanda Solomon commented about the upcoming deal and said this is part of a company strategy to reach a younger demographic.
She said: “We’re excited to join the X1 family. Our main focus with Tyrus is to be an industry disrupter by offering white glove services to our talent and diverse and inclusive roster of highly talented influencers who are enabling global brands to access and engage motivated Gen Z audiences.”
She went on to add that she hopes the acquisition will further strengthen the company.
“I’m supremely confident that joining X1 will take us to the next level and help us become an increasingly dominant player in this space,” said Solomon.
Tyrus Talent Services works with various social media content creators, including YouTube, TikTok and Twitch.
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