Troutman Pepper SEED Client Outplayed, Inc. Inks Deal with Enthusiast Gaming for U.GG Sale

NEW YORK – Troutman Pepper client Outplayed, Inc., owner of U.GG, one of the largest League of Legends fan communities in the world, has been acquired by Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX; TSX:EGLX). Total consideration is approximately $45 million in cash and stock paid at closing and to be paid through a schedule of deferred Anniversary Payments, plus earnouts of potentially up to $12 million, subject to certain performance milestones being achieved within two years of closing. Read a company press release about the deal.

Founded in 2017, U.GG has grown into one of the largest global services for the world’s most popular esport, League of Legends, by turning better data into smarter insights for fans and gamers. By combining a rigorous data science approach with a proprietary user-centric experience, U.GG provides actionable, data-driven insights supporting, educating, connecting, and engaging its current monthly active user base of approximately 8 million players.

U.GG was incubated at the Sixers Innovation Lab, established by Harris Blitzer Sports & Entertainment, the company that owns the Philadelphia 76ers. Troutman Pepper is a founding sponsor of the Lab.

A Troutman Pepper team led by Chris Miller and Todd Boylan, and including David Gallagher, Dean Longfield, Saba Ashraf, Robert Friedel, and Michael Crumbock, advised Outplayed, Inc. in the transaction.

Outplayed, Inc. joined Troutman Pepper’s program for Startup and Early-Stage Entrepreneurial Development (SEED) in 2017. The program’s holistic approach combines the resources of an experienced, multidisciplinary team into an affordable package for startups and early-stage companies that are accepted into the program. It provides young companies with legal counsel, mentoring, relationship building opportunities, and more.

For more information on the SEED program, visit seed.troutman.com.

About Troutman Pepper
Troutman Pepper is a national law firm with more than 1,200 attorneys strategically located in 23 U.S. cities. The firm’s litigation, transactional, and regulatory practices advise a diverse client base, from start-ups to multinational enterprises. The firm provides sophisticated legal solutions to clients’ most pressing business challenges, with depth across industry sectors, including construction, energy, finance, health sciences, insurance, private equity, real estate, and technology, among others. Learn more at troutman.com.