Millennial Esports has announced it will acquire the company behind McLaren's World's Fastest Gamer competition - IDEAS+CARS (logo pictured).
Millennial Esports will pay £100,000 and issue 1.3m shares as part of the deal.
Darren Cox, IDEAS+CARS founder, will become Millennial's chief marketing officer and MD of Millennial Esports Europe, as part of a three-year agreement.
"This transaction marks another major milestone for our company as we move into new territory in the esports ecosystem", said Millennial CEO Alex Igelman.
"We are extremely pleased to have a visionary like Darren Cox join our team and lead our entry into the world of motor racing esports. Darren's previous success with Nissan and Sony in delivering GT Academy paved the way for esports within the racing game genre.
"IDEAS+CARS current partnership with McLaren in the World's Fastest Gamer and the esports relationship with the legendary home of British motor racing, Silverstone Motor Racing Circuit, puts us in the forefront of the racing world and esports."
Millennial owns The Arena, Las Vegas' first permanent esports arena and studio, and the Millennial website which is an esports platform/tournament provider and online community.
Further reading: Check out our behind the scenes tour of McLaren's HQ as part of their esports push here, and our interview with Darren below: