Skillz invests $50m in Exit Games

Mobile esports tournament firm Skillz announced yesterday it has invested $50 million for a minority stake in Exit Games.

With the funding the company will have permanent access to the developer's multiplayer technology "to power its esports tournaments and platform exclusively."

It was also announced that Skillz's CEO and founder Andrew Paradise joined Exit Games board of director as an observer.

The firm said that developers and publishers will be able to create new titles on its platform which will add new genres to its catalog such as battle royale games, while enabling it to build features alongside Exit Games' technology.

"Bringing the world's best synchronous, multiplayer gaming technology to Skillz unlocks tremendous opportunity, greatly accelerating our entry into popular genres like fighting, first-person shooter, and racing," said Paradise.

The acquisition follows Skillz' $150 million acquisition of mobile marketing platform Aarki in June.