Swedish company M.O.B.A. Network has just announced its latest business acquisition, involving one of internet’s biggest forums, ResetEra, for $4.55 million.
The deal, which paid $3.55 million upfront and the remaining balance to be paid by the end of the year, was closed today. The transaction was aided by law firms, Westerlund Law which play advisor to M.O.B.A. Network, and WeBrokr LLC and Waugh Grand PLLC for ResetEra.
Official statement
As per official announcement, the existing operational team behind ResetEra will remain in their positions. Particularly, they will “continue to moderate and engage with the community and work with MOBA Network on future product development”. That is, inferring no drastic changes with how the site functions, aside from the fact there’s now a new owner to it.
Within the forum, user Cerium who claims original ownership of ResetEra himself made announcement to the community. In a post, he explains the reason behind the selling of the video game forum. One which started off in the premise of the difficult operation of the site, with him being its sole owner. Something which he openly admitted as a matter that he could not do “forever”.
The ideal buyer
Additional revelations from the post suggest many interested parties in wanting to make the buyout. However, after “months of deliberations and negotiations,” Cerium found the perfect buyer with M.O.B.A. Network. Apparently, due to the company’s solid track record of running, acquiring, and sustaining “community-driven gaming sites,” without actually interfering with how they operate.
As for ResetEra, it appears that M.O.B.A. Network will uphold on that reputation. Cerium, that is, citing that the new owner has “absolutely no desire to change the ResetEra community or its culture in any way”. “Their MO is to stay in the background and only handle the business and logistical end of things,” he added.
Autonomy
Iterating on the statement from the official announcement, the former owner claims that the forum’s staff will “retain total independence”. That is, within the context of “moderation and the day-to-day management of the site”. He even went so far as to allude the situation as to how journalistic publications hold sanctity in editorial independence.
With Cerium essentially handing down the baton to a new rightful owner, he’d still be a relevant part of his original creation. This time, as merely a potential consultant in the presupposition that he could be help in any way.
Image used courtesy of M.O.B.A. Network