(Alliance News) - Gfinity PLC shares were up on Wednesday after it announced that it has launched Athlos Game Technologies and appointed a strategic advisor to its leadership team.
Shares in the London-based e-sports and gaming company were up 13% to 1.19 pence each in London on Wednesday morning.
"Athlos provides its clients with a tournament-based platform that leverages the power of competitive gaming to deepen player engagement; to lower player churn; and to increase average revenue per user," Gfinity said.
It explained that the 100%-owned product builds on its expertise in developing programmes for organisations such as the Premier League. It also has a growing number of clients on recurring annual contracts and a strong pipeline of prospective future customers, the company noted.
Ginity added that it is currently exploring partnership opportunities with companies with experience in delivering and successfully managing SaaS business models.
Gfinity also appointed Todd Sitrin as a strategic advisor to the Athlos leadership team.
The company said that Sitrin has more than thirty years experience in the interactive and linear entertainment, esports, media, sports, and technology. It noted that his has working on games including FIFA, Apex Legends, Madden NFL, Sims and Battlefield.
Most recently, he was senior vice president & general manager of EA Sports' Competitive Gaming Entertainment.
Chair Neville Upton said: "Athlos Gaming Technologies is aligned with Gfinity's strategic focus on generating value by owning, scaling and monetising communities and our owned tech IP. In-game, live-service revenues are a key focus of the industry. It amounts to USD127 billion per annum, more than double the value of up-front game sales revenues.
"By adding Todd to an already strong leadership group, we are pushing forward with our exciting plans at pace."
By Sophie Rose; sophierose@alliancenews.com
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