M.O.B.A. Network acquires LoLwiz - an "in-game app" for League of Legends
M.O.B.A. has entered into an agreement to acquire LoLwiz, one of the largest in-game applications for League of Legends. The acquisition strengthens M.O.B.A's position and offer for League of Legends players and opens up a new business area for in-game ads within the group.
LoLwiz is an application that seamlessly integrates with the game League of Legends and provides the player with real-time tips during the game. LoLwiz is distributed via the largest platform for in-game applications, Overwolf. LoLwiz is monitized via in-game ads in the application. with over 2 million downloads to date, LoLwiz is one of the largest League of Legends applications on Overwolf.
"We see great opportunities to step into a new business segment, in-game, through the acquisition of LoLwiz, and also continue our successful way of creating synergies between our brands. Our strong brands within League of Legends, MOBAFire and Counterstats, have around half a billion annual views and through these marketing channels we have a great opportunity to grow and develop LoLwiz", says Björn Mannerqvist, CEO.
"To be able to offer our audience a high-quality application for a better gaming experience and to let our users participate in the work on further development of LoLwiz feels very inspiring and the product LoLwiz fits perfectly into our long-term strategy", comments Björn Mannerqvist further.
The purchase price amounts to $900,000 and is paid in cash. The acquisition multiple calculated over the last 12 months amounts to 3.3x.
About Overwolf: Overwolf is an in-game overlay app technology platform, empowering independent creators to build the apps they want for the games they love. These apps can provide the player with relevant in-game stats, video recording features, guides, and more. LoLwiz is one of the most successful applications for the popular game League of Legends.
This disclosure contains information that M.O.B.A Network AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 28-09-2022 06:30 CET.
