Telefónica and OverActive Reveal Prolonged Partnership at Mobile World Congress

OverActive Media Corp. (TSXV: OAM), a leading global esports and entertainment enterprise, disclosed today that Telefónica, a longstanding associate of Movistar Riders, has extended their sponsorship until the conclusion of 2026.

Post the finalization of OverActive's impending acquisitions of Goatch Global, S.L. (trading as "KOI") and Team Randomk Esports S.L. (trading as "Movistar Riders"), announced on January 4, the multi-million-dollar pact will stand as OverActive's most substantial financial alliance.

Telefónica declared the extension at the Mobile World Congress in Barcelona on February 28, 2024, within their booth in front of a live audience.

"We are enthusiastic about the prospects unlocked by these acquisitions," said Adam Adamou, CEO of OverActive Media.

"This announcement exemplifies the enduring benefit for a long-time Movistar Riders partner from the value brought by OverActive and KOI. It marks the most significant long-term partnership in our history, a proud day for everyone. We appreciate Telefónica's trust in our business."

Having partnered since 2017, Telefónica's prolonged agreement includes limited naming rights, branding on attire, and content creation.

In 2022, Telefónica became a minority stakeholder in Movistar Riders and will become an OverActive shareholder upon completing the acquisitions.

OverActive's partnership initiatives are integral to its business strategy, utilizing expertise and knowledge to engage younger audiences and offer meaningful opportunities for partners.

The acquisitions and Telefónica extension augment OverActive's ability to connect partners with the esports community.

OverActive Media Corp. (TSXV: OAM) is headquartered in Toronto, Ontario, with operations in Madrid, Spain and Berlin, Germany. OverActive's mandate is to build an integrated global company delivering sports, media and entertainment products for today's generation of fans with a focus on esports, videogames, content creation and distribution, culture, and live and online events. OverActive owns team franchises in professional esports leagues, including (i) the Call of Duty League, operating as the Toronto Ultra, and (ii) the League of Legends EMEA Championship, operating as the MAD Lions. OverActive also leads OAM Live, an events arm that produces live and online events.

KOI is the Barcelona-based Esports club founded by Kosmos and Ibai Llanos in December 2021. The club currently has three teams: League of Legends, which competes in the LVP Superliga; VALORANT, which, after a season competing in Spain, now competes in the VALORANT Champions Tour EMEA League; and EA FC.

Movistar Riders is one of the leading eSports clubs in Spain. Its professional players represent the Movistar Riders brand in multiple national and international tournaments, competing in the most popular games such as League of Legends, CS2, or VALORANT; in addition to having the Atlético de Madrid - Movistar team for EA FC.

The club is headquartered at the Movistar eSports Center in Matadero Madrid. In this high-performance center, both players and coaching staff have the most advanced means to develop their activity at the highest level.