GGL Bought for $2.5m
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3 Feb 2010, 01:48
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News
The GGL, the parent company behind Clanbase have today been bought for a staggering $2.5million. The GGL has had a colourful history in eSports with famed tournaments and large scale investment in early years followed up by massive debts to gamers and gaming companies. From CNN this is the story:
PrismOne Group, Inc. announced today that it has entered into a definitive agreement to purchase Professional Interactive Entertainment and its related entities (owned, controlled, parent and/or subsidiary), “GGL Global Gaming” (www.ggl.com). The purchase agreement includes $2.5 million dollars of initial financing, and is a major change to the current PMOZ business plan. PMOZ Chairman and CEO Samir Burshan commented, “this new GGL direction is an exciting growth opportunity for our company. GGL has more than 2.7 million registered members. Their technology is superior and their growth is just now beginning.
Whilst to many gamers the GGL's reputation can be only be described as bad at best, one shouldnt forget that the GGL has concluded on several 7 figure marketing deals and promotions beyond that of many companies operating in eSports, it can only be assumed that that potential is what is being purchased. There is no word on the debts.
Source
PrismOne Group, Inc. announced today that it has entered into a definitive agreement to purchase Professional Interactive Entertainment and its related entities (owned, controlled, parent and/or subsidiary), “GGL Global Gaming” (www.ggl.com). The purchase agreement includes $2.5 million dollars of initial financing, and is a major change to the current PMOZ business plan. PMOZ Chairman and CEO Samir Burshan commented, “this new GGL direction is an exciting growth opportunity for our company. GGL has more than 2.7 million registered members. Their technology is superior and their growth is just now beginning.
Whilst to many gamers the GGL's reputation can be only be described as bad at best, one shouldnt forget that the GGL has concluded on several 7 figure marketing deals and promotions beyond that of many companies operating in eSports, it can only be assumed that that potential is what is being purchased. There is no word on the debts.
Source
As you might know the Dutch saying:
Ze eten je arm, maar drinken je rijk.
I guess small change will always be small change. Then again at 88million in deferred revenue does make you think if what ever or who ever posts on forums actually affects their network.
deferred revenue : Revenue that is considered a liability until it becomes relevant to the business at hand, such as a payment received for work that has not yet been performed. opposite of deferred charge.
actually i dont have any facts on how these things work but just strongly assuming
DO SOME INVESTIGATION TOSSPOT
i know ESL will pay and garym8 knows it too :P
better pay the money very soon so we dont have to book flights to germany
The way it is now the debts will never be payed :/.
You wont find anyone higher than him, so feel free to ask.
otherwise this post lacks substance. what is going to change?