London, United Kingdom June 19, 2024 – Argyle Knight Holdings LTD (the “Company” or “AKH”), a private company registered in England and Wales, announces the execution of a non-binding letter of intent (the “LOI”) with Contender eSports LLC ( “Contender eSports”) for the acquisition of 100% equity interest in Contender eSports LLC (the “Acquisition”). The Acquisition value remains undisclosed at this time and includes a concurrent capital investment commitment by Argyle Knight Holdings of an additional $5,000,000 USD in three tranches over three years, where each tranche is contingent upon performance milestones.
Contender eSports is a premier esports franchise platform, consisting of both gaming franchise locations and mobile gaming platforms that offer state-of-the-art equipment, gear and facilities for both competitive and casual gamers alike. These centers provide best of breed gaming hardware built to competitive standards, with access to a wide range of popular games. The mission of Contender eSports is to elevate the gaming experience by offering a community-focused environment where gamers of all skill levels can thrive.
Market Overview
The global eSports market is projected to reach a size of USD 10.9 billion by 2032 with a CAGR of 20.9% over the analysis period of 2024- 2032.
The explosive growth of esports is driven by factors such as mobile and competitive gaming, increased investments from venture capital and private equity, major brand sponsorship, and the acceptance of competitive esports as a unique content creation and entertainment platform.
Key strategic highlights of the Acquisition:
Contender eSports will embark upon a three (3) year accelerated capital deployment and strategic growth program which will:
– Advance eSports center strategic partnerships with gaming communities, universities, sports stadiums, eSports leagues and mobile gaming venues.
– Build sustainable marketing and co-branded eSports center franchise campaigns
– Develop eSports cross promotion and esports content creation centers
– Accelerate strategic gaming center acquisitions and new franchise deployments
The Acquisition is being led by Argyle Knight Partners LTD, the private equity, strategic advisory and management company of AKH, focused on the acquisition, value-added development, and accretive secondary market opportunities of emerging technology platforms.
The Acquisition LOI
The LOI outlines how AKH and the Contender eSports will work towards the execution of a binding, definitive agreement of Acquisition and sets out a strategy by which the Acquisition has been de-risked to the greatest extent possible for both parties. The LOI gives the parties adequate time to enter into a binding, definitive agreement. AKH will issue additional press releases related to the Acquisition and other material information as it becomes available.
About Contender eSports LLC
Contender eSports is a privately held, premier esports franchise platform, consisting of both gaming franchise locations and mobile gaming platforms that offer state-of-the-art equipment, gear and facilities for both competitive and casual gamers alike. Experience the pinnacle of gaming in our Elite Centers. Perfectly situated in standalone or strip mall areas, these centers span 1000-1500 square feet and include two dedicated classrooms. Designed to accommodate 20-40 gaming stations, our Elite Centers cater to a wide variety of activities: casual gaming, exhilarating tournaments, private parties, dynamic STEM camps, and the exclusive Contender Esports Academy. Each center is an immersive gaming environment, bringing people together in their shared passion for esports and offering a range of exciting experiences.
Website: https://contenderesports.com
About Argyle Knight Holdings LTD
At Argyle Knight, we define ourselves as an emerging technologies platform committed to partnering with impact enterprises. Our scope is sector agnostic, thematic synergy focused, platform and IP driven companies with best of breed methodologies. We acquire, engineer and deploy, better proven businesses to serve developed and frontier markets. Our team is dedicated to value added strategic growth management for the next generation of impact capital focused companies.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS:
This news release includes certain “forward-looking statements”. Forward-looking statements include but are not limited to, statements with respect to those that address the ability of the parties to the LOI to come to definitive terms and execute definitive agreement documentation in respect of the Acquisition and the structure of the Acquisition, intentions, beliefs, and current expectations of Contender eSports and the Company, including with respect to the future business activities and operating performance of the Company that may be described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by, third parties in respect of the matters discussed above.
Website:
https://www.argyleknight.com
Contact: [email protected]
SOURCES: Argyle Knight Holdings LTD
