Play Magnus Group Secures Leading Library of Chess Content with the Acquisition of New In Chess
This is very big news indeed and here are further details.
Play Magnus Group expands its industry-leading library of chess content with the acquisition of Dutch chess publisher, Interchess BV, which operates the New In Chess brand.
New In Chess has built a world-class library of chess content comprising books, ebooks, digital subscriptions, and magazines. New In Chess has published over 200 titles, including best-sellers such as 100 Endgames You Must Know and Game Changer. The company also publishes the iconic New In Chess magazine and Yearbook which are highly regarded by chess enthusiasts around the world.
Play Magnus Group is acquiring 100% of the shares in Interchess BV for a cash consideration. As part of the transaction, Play Magnus Group will acquire Interchess BV’s holdings of 137,900 shares in Play Magnus Group originating from their early investment in Chessable Limited. New In Chess generated approximately EUR 2 million in revenue and was cash flow positive in 2020.
About Play Magnus Group
Play Magnus Group is a global leader in the chess industry focused on providing premier digital experiences for millions of chess players and students. The company offers e-learning and entertainment services via its market leading brands: chess24, Chessable, iChess, CoChess, the Play Magnus App Suite, and the Meltwater Champions Chess Tour. The Group’s mission is to grow chess to make the world a smarter place by encouraging more people to play, watch, study, and earn a living from chess.