Swedish holding company Modern Times Group (MTG) has announced the hiring of Daniel Frechen as the new Head of M&A and Strategy.
According to the release, Frechen’s new role will be directly tied to leading new mergers and growth. Moreover, the hiring is directly tied to the company’s ‘buy-and-build’ growth strategy.
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Prior to joining MTG, Frechen spent more than six years at NuCom Group, a Munich-based consumer internet growth platform with a portfolio of high-growth companies that spans a range of consumer internet sectors.
Daniel Frechen, MTG’s new Head of M&A and Strategy, commented: “I couldn’t be happier to be joining the team at MTG. I believe MTG is ideally positioned to create the future of mobile gaming and esports, and admire how the group has continued to evolve, innovate, and hone its unique ‘Swedish Family Model’ over the years.
“Gaming and esports are nascent, maturing and highly-exciting industries, and I’m excited to help shape the future of these sectors as part of the MTG team.”
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MTG is a publicly traded digital entertainment company based in Sweden. The firm is mostly known for its portfolio of gaming and esports companies which include ESL Gaming and Kongregate. MTG acquired 74 per cent shares of Turtle Entertainment, owners of the ESL brand, in 2015. ESL later acquired DreamHack, one of the largest esports tournament organisers in the world.
Esports Insider says: Frechen is an experienced individual who is sure to improve MTG’s already impressive portfolio companies. Judging by the recent mergers, it’s safe to say that there are more mobile gaming and esports-related mergers on the horizon for MTG.