Esports Merger for Blue Star Capital Investee Company Diemens Esports

 

Blue Star Capital plc is pleased to announce that Diemens Esports (formerly The Cubs Esports), one of its esports investee companies, has announced its intention to merge with Critical Hit Entertainment (CHE).
The merged entity, which will continue to trade under the name CHE, is expected to be one of the largest esport service infrastructure providers in Australia with combined revenue for 2019 of AUS $600,000. CHE will own the largest high school and university student, corporate and club level organised esports networks in Australia.
CHE intends to continue to develop its esports infrastructure product in Australia and anticipates raising funding to expand into developing countries in Asia.
Blue Star acquired an interest of 13.3 per cent in Diemens on 6 November 2019 and will have an interest of approximately 6.6 per cent of the merged entity immediately following the merger.
Tony Fabrizi, CEO of Blue Star said: “This is an exciting development for Diemens and should provide the company with a strong platform to aggressively pursue its Asian expansion plans.”
Darren Kwan will continue as Chief Executive Officer of CHE, with Mike Edwards joining the board of directors as Chairman. Darren said, “We are absolutely thrilled to be merging with Cubs. Their global reputation, capabilities and ambitions combined with our unique product offerings and talented team will provide the esports market both in Australia and in Asia an exceptional product offering.”
“We are delighted to be joining forces with the CHE team, whose talent and technology innovation to date will represent the next generation of outstanding service to the esports industry. We look forward to aggressively pursuing our Asian expansion strategy,” said Mike Edwards, Chair.