SEGG Media completes $10M acquisition of GXR World Sports platform

SEGG Media (SEGG) announced it has completed a $10 million acquisition of the technology assets and current active user base of more than 1,000,000 from GXR Racer Holdings. The Transaction marks SEGG Media’s second completed acquisition in July following the earlier acquisition of Concerts.com. The total pre-money valuation of the Company’s completed July transactions is $20 million. Integration between the GXR platform and the Sports.com app will result in the Sports.com Super App. “We’ve delivered on multiple high-impact acquisitions this month, turning LOIs into real strategic assets,” said Matthew McGahan, Chairman and CEO of SEGG Media. “Acquiring the GXR platform and adding Paul Roy to the team allows us to accelerate our mission to deliver the world’s first fully immersive, unified sports and entertainment media app. This is all about execution and the market is now seeing that SEGG Media is delivering.”