Esports racing and data service company Millennial Esports (TSX Venture: GAME) has agreed to purchase motorsports data provider Driver Database for $173,000 cash and $74,000 worth of Millennial stock.
The acquisition is part of Millennial Esports’ decision earlier this year to refocus its business model around providing results and data for the growing esports industry. The company previously expanded its data collection capabilities with the 2017 purchase of Stream Hatchet, which provides audience analysis for streamers and esports teams.
“We really believe adding the expertise of Driver Database to our group of brands will provide highly sought after valuable data intelligence in the growing esports industry,” Millennial Esports president and CEO Darren Cox said in a statement. “Driver Database has been collating data for 15 years in the motorsport industry and has gained trust and credibility in this space by the whole sport. With our marketing expertise, we can now make the most of this data. Millennial Esports also can use this well-structured approach to provide results and data to the burgeoning esports industry – data which is in high demand by the media, rights holders, and wagering organizations.”
Driver Database was founded in 2004 and has more than 70,000 monthly users. As part of the acquisition, the driverdb.com website will begin incorporating esports racing stats along with data on professional race car drivers. The company’s database currently includes information on 139,000 drivers gathered from 11,000 races. Millennial’s goal is to start using Driver Database’s methodologies to become a leader in esports racing statistics, and then to expand those practices to tracking data on other esports genres.
The deal is subject to the approval of the TSX Venture Exchange but is expected to close on Oct. 18. Upon closing, the founders of Driver Database will also receive $62,000 worth of Millennial stock options.