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Twitch has acquired Bebo, an acquisition that sees the company picking up both the 10-person staff and IP of the social network turned esports company.
Twitch confirmed as much to TechCrunch, though wouldn't offer more details on the acquisition in that statement. Additional sources speaking to the publication report that the acquisition cost Twitch under $25 million, however, and required the company to outbid Discord in the process.
Bebo got its start in 2005 as a MySpace and Facebook competitor but, after a turbulent run that included multiple acquisitions and an eventual bankruptcy, rebranded itself as a streaming service provider similar to an esports-focused Xsplit, and then moved into organizing esports tournaments for live streams.
That esports-focused chapter of Bebo's legacy is what Twitch is interested in, reports TechCrunch. The company has been building up its own esports event presence through its Twitch Rivals series, and its acquisition of Bebo serves to further those efforts.