18.5.2021 08:30:01 CEST | Play Magnus AS | Non-regulatory press releases
(Oslo, 18 May 2021) – Play Magnus Group expands its industry-leading position in chess with the acquisition of chess training and analytics startup Aimchess.com.
Aimchess is a fast-growing chess analytics startup powered by AI that delivers personalized insights and training exercises based on users’ historical games. Aimchess offers free services to all users with a $7.99 monthly subscription upgrade for unlimited access to Aimchess’ insights and training tools. In the year since it’s launch, Aimchess has quickly grown its registered user base to over 100,000 registered users with consistent MRR growth.
“We’ve had our eye on Aimchess since its inception and have been deeply impressed with the business and technical progress that founder Anton Gora has made. Aimchess’ analytics platform will add valuable insights and recommendations to all of our users across the Play Magnus Group portfolio.” said Andreas Thome, CEO of Play Magnus Group.
“I’m thrilled to bring Aimchess into Play Magnus Group’s incredible chess ecosystem,” said Anton Gora, the founder of Aimchess. “Joining forces with Play Magnus Group will allow Aimchess to expand its reach with the next generation of digital-native chess players.”
As of Q4 2020, across its ecosystem Play Magnus Group has 3.5M registered users and 44.3K average monthly paying users. Since launching in April 2020, Play Magnus Group’s Chess Tournaments have achieved over 100M live views on online streaming platforms, bringing chess to new and existing fans in innovative formats and broadcasts.
“We believe Aimchess will rapidly grow in the coming years as we introduce the service to our users. We are excited to dedicate a tournament of the Meltwater Champions Chess Tour to showcase the capabilities of Aimchess to a wider audience.” said Andreas Thome, CEO of Play Magnus Group.
Play Magnus Group has acquired the assets of Aimchess with a combination of cash and shares and with additional incentives for the founder to continue growing the business.
The acquisition follows Play Magnus Group’s aforementioned M&A strategy of acquiring content, technology and services to drive recurring revenue.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contacts
Andreas Thome, CEO, Play Magnus Group, andreas@playmagnus.com
About Play Magnus AS
Play Magnus Group is a global leader in the chess industry focused on providing premier digital experiences for millions of chess players and students. The company offers e-learning and entertainment services via its market leading brands: chess24, Chessable, iChess, New In Chess, EverymanChess, CoChess, the Play Magnus App Suite, and the Meltwater Champions Chess Tour. The Group’s mission is to grow chess to make the world a smarter place by encouraging more people to play, watch, study, and earn a living from chess.
Play Magnus Group is listed on Euronext Growth Oslo with the ticker PMG. For more information visit pmg.me.
Attachments
Download announcement as PDF.pdf
