22 Mar Motorsport Games Closes Previously Announced Acquisition of KartKraft
MIAMI, March 22, 2021 (GLOBE NEWSWIRE) — Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world and its wholly-owned subsidiary, Motorsport Games Australia, today announced the completion of its previously announced deal to acquire the assets and the business of KartKraft, the highly acclaimed PC kart racing simulator, from developer Black Delta. Under the terms of the agreement, Motorsport Games takes ownership of the KartKraft IP as well as all the game assets and code. Additionally, key members of the original development team, including Founder Zach Griffin, join Motorsport Games to form a new studio called Motorsport Games Australia, under which development of KartKraft will continue.
“The acquisition of KartKraft represents yet another step in our growth as a leading developer and publisher of racing games,” said Dmitry Kozko, CEO of Motorsport Games. “This acquisition immediately enhances our product suite, integrates seamlessly, and we get the added bonus of world class content creation and programming talent. The combination of their product and technology with our marketing and publishing expertise is formidable. We look forward to discussing more on our earnings call on March 24th at 5:00 PM ET.”
KartKraft further expands Motorsport Games’ product portfolio, content development, digital product sales capabilities, and provide an opportunity to expand the company’s esports ecosystem. In addition to the continued development of KartKraft, the new Motorsport Games Australia studio will bring its expertise from the Unreal Engine, developed by Epic Games, and racing simulation to other Motorsport Games licenses including NASCAR, 24 Hours of Le Mans and the British Touring Car Championship.
KartKraft is currently in Early Access on Steam for PC and its simulator has quickly amassed a cult-like following within the sim-racing community. Upon its full release, it will allow players to build their own karts from the chassis up and race on 10 officially licensed, laser-scanned tracks with 20 official kart manufacturers.