Technology company SEGG Media has completed the acquisition of the technology assets and user base from GXR Racer Holdings Limited (GXR) for a total value of $10m.
The GXR platform will be integrated with SEGG Media’s own app
SEGG Media, which owns and operates digital assets such as Sports.com, Concerts.com, and Lottery.com, has completed the second acquisition in July (the first one being racing and gaming media network Veloce Media Group), with a total pre-money valuation of the transaction amounting to $20m.
According to a press release, the GXR platform will be integrated alongside the Sports.com Super App, an all-in-one digital ecosystem built for the ‘modern sports audience’, which aims to combine live streaming, community chat hubs, stats-based social media, e-commerce, real-money and fantasy sports gaming, real-time translations, and sports news.
As part of the acquisition, GXR Founder and CEO Paul Roy will become the Director of a newly formed entity that will house the Sports.com Super App, contributing to the integration strategy and long-term growth of the app’s global operations. Earlier today, the company officially launched the website.
The app is expected to be launched globally at the beginning of Q3 2025, and the revenue will be generated through premium subscriptions, in-app advertising, merchandise sales, and gamified challenges. India’s Super League Kerala has already signed a commercial and broadcast partnership with the Sports.com Super App and is currently in discussions with other premier sports leagues across Latin America, the Middle East, Africa, Europe, and Asia to acquire exclusive regional streaming and gaming rights.
“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.”
GXR’s involvement in esports
With the acquisition of GXR, SEGG Media is looking to bridge the gap between traditional sports and gaming for the newer generations. GXR is mostly known in the space for operating an esports team, Nigma Galaxy, following a merger with the Emirati organisation Team Nigma in 2021. The team is still competing on Dota 2, and has previously held rosters in League of Legends and CS:GO, among others.
That being said, SEGG Media hasn’t stated how and whether the acquisition of the company will affect the company’s esports section. According to the release, more details about the transaction will be revealed during SEGG Media’s Form 8-K, which will be filed on or before August 5.
“This is more than a platform play, it’s a global media evolution,” said Tim Scoffham, CEO of Sports.com Media. “With GXR’s existing user base of more than 1,000,000 active users, the Sports.com Super App is rapidly positioning itself to become the go-to app for sports, esports, and immersive fan experiences around the world. Integrating the two platforms allows us to accelerate the development timeline for the Super App, bringing fans closer to the action much sooner.”
