16 Sep 2020 Patrick

Dream Sports Set to Acquire Gaming Start-up SoStronk

Dream Sports set to buy SoStronk

Dream Sports, owner of leading fantasy sports platform Dream11, is reportedly in advanced discussions to buy Bengaluru-based e-sports platform SoStronk, according to industry sources quoted exclusively in Moneycontrol.

SoStronk, founded in 2016, has B2B and B2C arms. For businesses, it acts as an entity running major online and offline tournaments, as well as providing technology infrastructure, support, and production to esports tournaments.

Under its B2C business, SoStronk offers services to competitive gamers under subscription.

The company last raised an undisclosed amount from Inflection Point Ventures (IPV) in 2019, and no figures have yet been revealed about how much Dream Sports is willing to pay.

Dream Sports is flush with cash having recently secured US$225 million in funding, which gives the firm a total value exceeding US$2.5 billion.

And according to the Moneycontrol report, Dream Sports is in negotiation with four to five other gaming and tech startups.

"The overall budget lined up for all these acquisitions is in the range of $10-15 million", said one of the sources quoted in the article.

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