Gaming veteran Christopher Bergstresser drives Esports Mogul’s video game expansion strategy
Esports Mogul had more than $5 million in the bank at the end of the December quarter to finance its expansion plans, while maintaining its “best-in-class” mogul.gg esports tournament platform.
Former chief operating officer of SEGA and Enad Global 7 Christopher Bergstresser has joined Esports Mogul’s (ASX: ESH) board to drive its expansion strategy in the video games sector.
Mr Bergstresser joined Mogul’s board as a non-executive director during November following an extensive global search.
The following month, Mr Bergstresser was then appointed executive director to lead the company’s “buy and build strategy” (merger and acquisition investments) in video games.
According to Mogul, Mr Bergstresser has 30 years’ experience in founding, buying and building companies in the video gaming and mobile sectors.
Mr Bergstresser’s most recent role was chief operating officer of Nasdaq First North-listed Enad Global where he drove the Swedish-based company’s expansion through merger and acquisition activity in video games.
Mogul chairman Gernot Abl said Mr Bergstresser’s appointment was “very exciting” for the company and he looked forward to seeing where he can take it into the future.
Buy and build strategy
According to Mr Abl, buy and build is a proven approach to achieve “significant investor returns” in video games.
The company’s initial focus will be on small to midsize gaming companies with strong founder lead teams, great intellectual property and already engaged audiences to ensure scalability and ongoing growth.
Investment targets may include mobile or PC games with existing or new business models such as play-to-earn.
“The key difference for Mogul versus other buy and build game companies is our focus on managing operational synergies from first acquisition onwards,” Mr Abl said.
He added the operational synergies will comprise common financial infrastructure and data visualisation, as well as centralised legal and HR.
“We feel this will allow group companies to focus on what they do best: make best-in-class games.”
He noted the structure would also enable companies to learn from each other by sharing experiences, finding new ways to innovate, and expanding while reducing risk.
Cashed up to pursue expansion
To accelerate Mogul’s buy and build strategy, a $1.6 million oversubscribed placement was completed late last year.
Following the placement, Mogul had more than $5 million cash in the back at the end of the December quarter.
These cash reserves are believed sufficient to finance both Mogul’s buy and build plans, and maintain its esports tournament platform.
Mogul tournament platform
Mogul already owns and operates the mogul.gg tournament platform. It includes automation for major esports titles and in-platform chat and streaming capabilities.
With its centralised offering, the platform attracts esports teams, tournament organisers, influencers, community groups, game publishers, and players from all skills sets.