Skillz Invests $50mio In Exit Games

Skillz Invests $50M in Exit Games as Strategic Partner.

Skillz engages in a strategic partnership with Exit Games in a bid to introduce new technology in its esports tournaments. Skillz is a leading mobile games platform that provides services in conducting fair esports tournaments for players throughout the world.

Its strategic partnership with Exit Games will help it to further grow its audience in Racing, FPS games, and fighting games.

Exit Games is famous for its advanced synchronous multiplayer technology in games which is known as Photon. It allows developers on its platform to create and host real-time synchronous multiplayer games. It has approximately 600,000 partners worldwide including some of the top publishers like Square Enix, EA, Ubisoft, and others. Currently, it is powering more than 700,000 applications.

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Skillz investing and going in strategic partnership with Exit Games will provide the company with permanent access to Photon to propel its esports tournaments. The technology will let Skill-z accelerate its timeline to support multiplayer synchronous content as well introduce new features via Exit’s technology.

Skillz CEO Andrew Paradise said, “Bringing the world’s best synchronous, multiplayer gaming technology to Skill-z unlocks tremendous opportunity, greatly accelerating our entry into popular genres like fighting, first-person shooter, and racing. Expanding into these new areas will grow our total universe of players and allow us to capture an even greater share of their leisure time and spend, while also introducing the technology and infrastructure necessary to attract more of the hottest, most creative developers, publishers, brands, and iconic franchises to our platform.”

The details of the deal show that Skill-z has acquired a minority stake in Exit Games by investing $50 million. Moreover, Andrew Paradise will join the Exit Games’ Board as a Board Observer.

CTO of Exit Games said, “This investment is a natural fit. We’re pleased to have Skill-z as a long-term partner in bringing synchronous play to our developers and their gaming fans around the world.”