Traxion.GG Limited acquired Certain assets from Motorsport Games Inc. for approximately $0.250 million.
May 30, 2024
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Traxion.GG Limited acquired Certain assets from Motorsport Games Inc. (NasdaqCM:MSGM) for approximately $0.250 million on April 26, 2024. Motorsport Games Inc., entered into an Asset Purchase Agreement with Traxion.GG Limited, as on April 26, 2024. The consideration of the assets was $0.25 million consisting of $0.2 million cash payment at closing and $0.05 million in value of marketing services to be provided by Traxion.GG to the Company during the period from April 26, 2024 through December 31, 2026 on YouTube, Twitch, Instagram, X (formerly known as Twitter) and Facebook, and access to the Traxion YouTube and Twitch channels for Le Mans Virtual Series and key esports and gaming events as agreed between Traxion.GG and the Company. Motorsport Games Inc. sold certain assets related to the Company?s motorsport and racing games community content platform (?Traxion?). Motorsport Games retains the option to access the video platforms for future broadcasts of the Le Mans Virtual Series and 24 Hours of Le Mans Virtual.
Traxion.GG Limited completed the acquisition of Certain assets from Motorsport Games Inc. (NasdaqCM:MSGM) for approximately $0.250 million on April 26, 2024.
Motorsport Games Inc. is a motorsport network company. The Company is a racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world. It develops and publishes multi-platform racing video games, including for game consoles, personal computers (PCs), and mobile platforms through various retail and digital channels, including full-game and downloadable content. It operates through two segments: Gaming segment and Esports segment. The Gaming segment is engaged in the development and publishing of interactive racing video games, entertainment content and services. The Esports segment includes organization and facilitation of esports tournaments, competitions, and events for its licensed racing games as well as on behalf of third-party video game racing series and other video game publishers. The Company also owns the rFactor 2 and KartKraft simulation platforms.
MOTORSPORT GAMES INC. 
