The move will give Catena Media with a much-needed financial boost, aside from allowing it to focus on other goals.
Catena Media is a major affiliate marketing specialist. Marking an end to its participation in the esports sector, it has divested its esports assets. Representatives confirmed the transaction and justified it with the decision of Catena to focus on higher-margin products.
Company members received an email confirming the sale. It will see the esports.net and esports.com divisions of the company sold to another company. Manuel Stan is the chief executive officer of the company. It said that this move is consistent with the strategy of the company to focus on doing fewer things better.
Catena Media will also receive a much-needed financial boost. In addition, the sale allows the company to focus on other goals.
The company has not yet disclosed the buyer. However, Stan stated that the sale will take effect immediately.
Stan addressed the people behind the esports.net and esports.com brands in his email, congratulating them on their amazing work on making a segment-leading product the millions of customers have enjoyed throughout the years. Stan added that the sale highlights the strength of the two esports brands and the team’s hard work.
Yet, the divestment necessitated the layoffs of numerous employees. This includes a mix of full-timers, freelancers, as well as contributors. This included the general manager for esports, as well as emerging markets in the Asia Pacific region, Gianfranco Capozzi.
Saying that his time with the company has been a wild, challenging, and rewarding ride, Capozzi talked about the sale on his LinkedIn account.
He said he’s grateful for everything he has learned. Still, it’s bittersweet to see this chapter come to an end. However, change brings new energy. For now, he is taking a short break to decompress, reflect, and prepare for what’s next.
