X7 continues acquisition spree with London Esports
European esports organization X7 has made its third acquisition in less than 12 months, this time taking over London Esports.
The deal: Financial terms have not been disclosed at the time of publication.
- It was on June 26 that London Esports CEO Alfie Wright announced that the organization would cease operations after he spent "the better side of half a decade" developing the brand.
- Now, as of June 27, it's been revealed that London Esports is the latest company to be acquired and rolled into X7 — a relatively new esports organization with bases in both London and the Isle of Man.
- Wright will assume the role of Chief Operating Officer for X7 with Trev Harwood, the former COO, stepping down into an unannounced new position at the organization. Wright's been tasked with "streamlining" business development, finding new partners, and diversifying its revenue streams.
The development: X7 has been growing and impressing at a solid pace as of late.
- X7 acquired two small, homegrown UK esports organizations in Bulldog Esports and Absolved back in September and October 2021 respectively.
- The organization receives funding from the Isle of Man government as part of a sponsorship deal that was unveiled in June 2021. In exchange for financial support, X7 provides a logo placement on its team jersey and effectively serves as an unofficial representative of the nation.
- The team really made a name for itself in European esports when it competed in the Amazon European Masters tournament in April 2022 after finishing first place in the Northern League of Legends Championship's first division.
- With this acquisition, as well as the hire of its new Partnerships Executive, X7 is hoping to continue its progression through the echelons of competitive gaming. "In order to reach new audiences, we will be moving into new esports titles, and this partnership with London brings subject-matter experts in those [games] that we’re less familiar with," said X7 Director of Esports, Antony Newton.