January 22, 2018 / 7:12 AM / a month ago

BRIEF-Russia's Mail.Ru Group to buy eSports company ESForce

Jan 22 (Reuters) - Mail.Ru Group Ltd:

* Announces the acquisition of 100 percent of ESForce, one of the largest eSports companies globally.

* The transaction was signed on Jan. 19, 2018, is expected to close in Q1 2018 and is subject to third party approvals.

* Mail.Ru Group will acquire 100 percent of ESForce in an all cash transaction for $100 million less any outstanding debt at closing, with a further KPI related payment at the end of 2018 connected to specific financial and operating targets.

* The further payment is likely to be around $20 million.

* Mail.Ru Group will fully consolidate ESForce and will disclose all results on a pro-forma basis going forward to allow like-for-like comparison. Source text for Eikon: Further company coverage: (Reporting by Moscow Newsroom)

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