Global Gaming Technologies Appoints Founder Of Atari New CEO

Global Gaming Technologies has proudly announced their new CEO and chairman, and it’s none other than Atari founder, Nolan Bushnell. In addition to this, the company is making another crucial decision, as the Videre eSports Corp. acquisition is their next big move.

Nolan’s Experience to Push Forward GG Technologies

Shidan Gouran, Global Gaming president is apparently content with the choice he made regarding new board member Nolan, commenting that “the appointment of Nolan to the board of directors will enable us to build a stronger footing in the ever-growing interactive gaming space and we look forward to his many years of leadership and experience within the gaming industry that he brings.”

Speaking of Bushnell’s past experience and track record, besides being co-founder of an iconic video gaming brand, he also founded the Chuck E. Cheese’s Pizza Time Theatre Chain. In 2014, the business was sold to…

… Apollo Global Management for $1.3bn.

Videre Merges With Global Gaming Subsidiary

Besides appointing Bushnell to the board of directors, the business has officially confirmed an agreement to acquire all of the issued and outstanding common shares in another capital with huge potential.

British Columbia-based company, Videre eSports Corp., features certain intellectual property assets. Those include a proprietary esports betting platform to be launched in the second quarter. As a matter of fact, some other developers are making their way into esports as well.

GG And Videre Deal In Numbers

As for the acquisition, the agreed price per share is $0.02…

…in the exchange for all the common shares in Videre.

The aggregate purchase price is for $8.58m, which leads to GG issuing a total number of 428,865,080 common shares. The agreement also determines that unique esports betting platforms developed by Videre will be under GG’s undership and will continue operating as a wholly-owned GG subsidiary under the name, Videre eSport Corp.

If things continue to develop as expected, Videre’s former shareholders will own 37.19% of the shares on a collective basis. This means that former shareholders of Videre will be allowed to hold more than 10% per individual shareholder.

Videre Targets Millennials

Seeing esports as the path of the future, Bushnell comments that a plethora of enticing releases, along with large prize pools, will attract a young audience to attend the events.

“The growth of the esports sector has been fueled by the rapid adoption of technology among millennials, the general rise in all types of online gaming and games’ winning combination of competitive sport and Hollywood-style entertainment.”

The goal of the idea to implement the Videre platform in games they are developing at the time is to create a synergy which will allow for major prospects in years to come.

Source:

“Global Gaming names Atari Founder as new CEO”, igamingbusiness.com, March 7, 2019.