MTG acquires DreamHack

The move is part of MTG's expansion into the esports business, which began July with the purchase of a 74 per cent stake in ESL for €78 million.

According to DreamHack, the deal will allow the company to go ahead with its plans of hosting festivals in more countries while helping to "solidify Sweden as one of the main destinations for esports in Europe."

DreamHack has been sold to MTG 

The management behind DreamHack will remain in charge of the business, benefiting now from the expertise of MTG, whose operations span six continents and include TV channels and platforms, online services, content production businesses and radio stations.

"DreamHack is built on a true do-it-yourself mentality," DreamHack CEO Marcus Lindmark said in a statement. "Something I experienced as volunteer crew back in 2002 but also now as CEO.

"As part of that DNA, we have already achieved great things and will continue to do that in the future.

"But in order to take next leap, from being equal size of a normal swedish music festival and become global event company – we believe that MTG is a perfect owner of DreamHack the coming years."

DreamHack and MTG have had close ties since 2013, when the two companies joined forces to build a studio in Stockholm to produce esports content, which is broadcast on MTG's video-on-demand platforms and TV channels.

“DreamHack is already Sweden’s largest digital festival," MTG CEO and president Jørgen Madsen Lindemann said. "MTG’s investment will not only enable us to consolidate our position, but also accelerate the international expansion of our festivals across the globe.

"Our vision is to make DreamHack the festival of choice for Millennials everywhere. We have years of experience as an innovative and successful esports organizer and broadcaster, and of making entertaining esports content for both traditional and digital media partners.

"We have been working closely with MTG for the past two years to grow the esports even further, so we know each other well and look forward to taking our cooperation to a new level.”

From November 26-28, DreamHack will host its annual Winter event, in Jönköping, which will serve as the venue for the FACEIT League Stage 3 finals, where eight teams will duke it out for the bulk of the $250,000 prize pool.

Seven DreamHack events have so far been confirmed for 2016, but the Swedish company is hoping to add to the list with a big festival in Stockholm that could become a major if talks with Valve reach a positive outcome.