Tuesday December 5, 2023

Top Chess Player, Platform Join Forces in $82.9M Deal

  • Chess.com has agreed to acquire world champion Magnus Carlsen's Play Magnus Group for $82.9 million.
  • The move brings together the game's best player and largest platform.
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The world’s top chess player is joining forces with the game’s biggest online platform.

Play Magnus Group, founded by world champion Magnus Carlsen, has accepted an $82.9 million acquisition offer from Chess.com. The deal is expected to be completed in six-to-eight weeks.

  • Chess.com has more than 90 million members and hosts over 10 million games per day. 
  • Play Magnus offers four chess playing and training apps for a bundled monthly subscription of $14.17.
  • Both companies also host a range of tournaments.

Play Magnus owns several other brands, including training platform Chessable and the kid-focused Magnus Chess Academy. The company’s stock jumped more than 20% on Thursday in the wake of the news.

Good to Be King

Carlsen took home $1.2 million after successfully defending his title at the FIDE World Chess Championship last year against Ian Nepomniachtchi. 

He was 2020’s top earner in esports prize money with $510,587. Fellow grandmasters Hikaru Nakamura (7th, $324,645) and Wesley So (12th, $246,180) also made the list, which was otherwise dominated by “Call of Duty” players.

Carlsen, who has been world champion since 2013, stunned the chess world in July by announcing he would not defend his title. 

He continues to play in top-level tournaments, most recently winning the FTX Crypto Cup this month — part of this year’s nine-month Meltwater Champions Chess Tour, in which Carlsen has earned the most prize money winner to date, $146,500.

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