We all know about the popularity of Fantasy Sports in the gaming sector. Well, this popularity has led its parent company Dream Sports which is often known by its platform Dream 11, to acquire Indian e-sports platform SoStronk, as per a report in Money Control.
Dream Sports has recently raised USD 225 million and is set to conquer fine success in its industry. This gaming giant has also been named as the first Indian gaming company to enter the Unicorn Club back in 2019.
Just round of the corner, In August 2020, the company has also been in talks with being the title sponsor of Indian Premier League which has been confirmed with an official statement. Indian Premier League or the IPL is the world’s biggest cricket league to be played and Dream Sports paid around $31 million for the rights which is commendable.
Shifting our attention to the Indian tech operating giant- SoStronk, it is primarily a tech company which operates in the very popular game- Counter-Strike: Global Offensive. The company also operates a service wherein it collaborates with tournament organizers to augment production. Along with this, it offers league operations, server hosting services, technical infrastructural needs as well. SoStronk has also made it official on their website that they are developing a mobile gaming platform which will profit as a B2B service.
The tech giant also extends its services to B2C business and offers services to third party gamers under subscription bundles.
Dream Sports offers fantasy games such as kabaddi, football and much-loved cricket. The company’s official partners are International Cricket Council (ICC), National Basketball Association (NBA) and recently added Indian Premier League (IPL).
SoStronk, on the other hand, is loaded with funding from marquee investors. According to sources, It is not only in talks with Dream Sports for acquisition but 4-5 other technology and gaming start-ups. Money Control could not ascertain the names of other companies Dream Sports is in talks with for acquisition.
Reports claim that the overall budget for all these acquisitions lies in the range of $10 million to $15 million, the exact amount for SoStronk deal is not disclosed by the companies yet.
Lockdown due to COVID-19 has increased mobile and internet usage all over the world. India is expected to jump from the current 570 million internet and smartphone users to 800 million by the year 2023.
Since the launch of Reliance Jio’s internet service, rapid internet penetration has been recorded, smartphones are available in affordable prices and this has boosted the gaming business a little too much.
Dream Sports and SoStronk has not responded to queries yet, a press release can be expected anytime soon.