MOBA Network acquires LoLwiz – an “in-game app” for League of Legends

MOBA has reached an agreement to acquire LoLwiz, one of the largest gaming applications for League of Legends. Acquisition strengthens MOBA’s position and offering for League of Legends players and opens up a new business area for in-game ads within the group.

LoLwiz is an application that integrates perfectly with the game League of Legends and provides the player with real-time guidance during gameplay. LoLwiz is distributed through the largest in-game app platform, Overwolf. LoLwiz is monetized through in-app in-game ads. with over 2 million downloads to date, LoLwiz is one of the biggest League of Legends apps on Overwolf.

“We see great opportunities to enter a new business segment, in gaming, through the acquisition of LoLwiz, and also to continue our successful way of creating synergies between our brands. Our strong brands within League of LegendsMOBAFire 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.

“Being able to offer our audience a high quality app for a better gaming experience and allow our users to participate in the further development work of LoLwiz is very inspiring and the LoLwiz product fits perfectly into our long-term strategy”, comments Björn Mannerqvist further.

The purchase price is $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, enabling independent creators to build the apps they want for the games they love. These apps can provide the player with relevant game stats, video recording features, guides, and more. LoLwiz is one of the most successful apps for the popular game League of Legends.

This disclosure contains information that MOBA AB Network is required to make public in accordance with the EU Market Abuse Regulation (EU No. 596/2014). The information has been submitted for publication, through the contact person, the 28-09-2022 06:30 CET.

stockholm 2022-09-28

Bjorn Mannerqvist, VD

Email: info@wearemoba.com

Web: https://wearemoba.com

Certified Advisor – FNCA Sweden AB

MOBA AB network acquires, develops and operates gaming communities for the global gaming market. The company has one of the world’s largest networks of gaming communities, with 20 global web-based brands and the Union For Gamers (UFG) YouTube network with over 1,000 content creators. The company’s areas of activity consist of the sale of advertisements on the company’s communities and the sale of videos through the YouTube network.

https://news.cision.com/moba-network-ab/r/moba–network-acquires-lolwiz—an–in-game-app–for-league-of-legends,c3637710

https://mb.cision.com/Main/17986/3637710/1631639.pdf

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