Toronto, Ontario, Canada-based gaming and esports company Torque Esports Corp. (TSX-V: GAME) (OTCQB: MLLLF), acquired WTF1, a London, UK-based Formula 1-themed brand.
The amount of the deal was not disclosed.
The seller in the transaction was Dennis Publishing, which had acquired the company in 2017.
With the acquisition, Torque Esports will now help WTF1 further grow the brand in order tom continue to expand its media reach complimenting the recent launch of “The Race” YouTube and website motorsport news portal.
Founded in 2010 by Tom Bellingham, WTF1 is a fast growing motorsport community serving and connecting with motorsport fans, who engage on social media.
The brand’s online presence is comprised of:
– 12m fans reached every month;
– 450,000 followers on Facebook;
– 495,000 followers on Instagram;
– 450,000 subscribers on YouTube channel fronted by Matt Gallagher;
According to a written note, 87% of users are aged between 18-44 years old.
Led by President and CEO Darren Cox, Torque Esports is a gaming and esports company whose core business segments include gaming content production, data, esports events and content production, and hardware.
The company leverages a growth strategy that makes acquisitions of complimentary assets to drive the existing ecosystem, which currently has operations in North America and Europe.
Its esports racing operations are comprised of a gamer competition, which gives sim racers the chance to become a real world race driver, a prize worth over US$1m, like a big Jackpot.
The company’s motorsport and esports operations also include Eden Games, a France-based gaming studio, which publishes the Gear.Club mobile racing game and develops the F1 Mobile game on behalf of gaming brand Codemasters, and UMG, a premier esports competition provider in North America offering live gaming entertainment events and online play.
Torque also owns Stream Hatchet, a data analytics/intelligence company focused on live streaming analytics, E-Sports industry research, API services and consulting services
Torque has also begun the proposed acquisition of motorsport simulator company Allinsport and recently launched “The Race” motorsport news media brand, online, on social media and on YouTube.