Huya is forming a joint venture with MTG’s portfolio company Turtle Entertainment GmbH (ESL) that will facilitate the company’s expansion into China. Huya will also acquire a minority interest in ESL.
“We are pleased to establish a close partnership with ESL, which demonstrates Huya’s further penetration into the global esports sector. Together with ESL, we are thrilled to bring more world class global esports content to Chinese gaming enthusiasts,” says Rongjie Dong, Chief Executive Officer of Huya.
The total value of the transaction is $30 million and is made up of both primary and secondary shares.
“We are excited to announce this term sheet for an important strategic partnership which provides us with a strong partner in Huya to pave the way for a successful ESL expansion into the thriving Chinese esport and gaming market in due time,” added MTG President and CEO Jørgen Madsen Lindemann.
Huya is a leading game live streaming platform in China with a large and active game live streaming community.