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Glisco Partners and Heart Beat have announced the close of a $12,4 million investment into the Spanish company GGTech entertainment. GGTech, a leader in gaming and esports, is one of the world’s leading organisers of competitions and events in esports. GGTech will consolidate their global presence in Europe, North Africa, the Middle East and Latin America. They will also accelerate their entry into the US gaming and esports market.
GGTech entertainment is a global company that has a presence across Europe, North America and South America as well as the Middle East, North Africa and the Middle East. Its mission is to develop innovative projects in the areas of leisure, education and entertainment through technology, gaming and esports. The company provides a range of technology solutions that promote social development and provide the best entertainment, competition and leisure experiences. GGTech is a team of professionals from around the world who are focused on creating and operating products for the gaming and sporting industries. They also make significant advances in applied technology.
In the UK GGTech is developing Amazon University Esports. The project is present in 16 countries on 4 continents and aims to combine the educational aspect of video games, as well as the competitive side. Professionals in the esports sector present workshops to university students who are interested in learning more.
GGTech announced recently the acquisition of Nuel, a grassroots esports community and tournament organiser based in UK.
Jose Parrilla is the co-founder and CEO at GGTech Entertainment. He says: “As a leading organiser of multilingual esports tournaments and events in Europe, MENA, and Latin America, our growth prospects in America are very promising. The popularity of video games and esports has been increasing year after year. This is especially true in the US where over half the population plays games regularly. The trend is expected grow exponentially in the next decade, and GGTech’s goal is to increase our presence on this market within the next few year. Our growth in the US market is also supported by major brands and publishers with whom we have strong alliances.
Alfredo Castellanos said that the investment was part of Glisco Partners’ strategy to help disruptive companies gain market share and enter US markets. GGTech’s proven business model, and its strategy to leverage content production studios located in Mexico and Spain in order to serve the growing esports industry in the US makes it particularly attractive.
Industry Numbers
Video games reached over 3 billion players around the world and generated revenues of $192.7 Billion in 2021. This makes it the second biggest segment of entertainment worldwide. Statista’s latest research shows that esports will have a global audience in 2022 of 532 millions viewers, which includes both casual and enthusiast viewers. This represents an increase of over 60 million viewers compared to the previous year, making esports America’s second most popular sport after the NFL.
