Publicly traded, UK-based esports organization Guild Esports PLC (LSE: GILD) announced Monday that it has signed a technical partnership agreement with racing simulation equipment company Fanatec, a division of Germany-based Endor AG.
Financial terms and duration of the deal were not disclosed.
Under the terms of the deal, Fanatec will supply Guild with eight state-of-the-art sim racing rigs, related hardware, and regular technology upgrades under a “value-in-kind deal.” The rigs will part of the Guild Sim Racing Facility that is being built out at the Sky Guild Gaming Centre at its London headquarters.
For its part, Guild will display Fanatec branding throughout the facility and on social media. The Guild Simulator Facility will also be used as a showroom for Fanatec, with Guild receiving affiliate revenue from any on-site or digital sales.
Guild said in a release that it expects the sim racing facility will begin generating revenue in the third quarter of the 2023 calendar year.