Multiplayer tech developer Exit Games nets $50 million from esports platform Skillz

Mobile exports platform Skillz has sunk $50 million into synchronous multiplayer gaming technology developer, Exit Games, as part of a new strategic partnership. 

Based in Germany, Exit Games uses its 'Photon' tech to help developers create and host real-time synchronous multiplayer games, and has worked with high-profile companies including EA, Square Enix, and Ubisoft. 

The deal will see Skillz take a minority stake in Exit Games, and will grant it permanent access to the company's technology. Skillz CEO Andrew Paradise will also join the Exit Games board as a 'board observer.'

"The partnership will dramatically accelerate Skillz's timeline to support multiplayer synchronous content on the platform, while also enabling Skillz to build unrivaled features in tandem with Exit's gaming technology," reads a press release. 

"Publishers and developers worldwide will now have the ability to build games on the Skillz platform in entirely new genres, such as battle royale, while continuing to provide gamers with the confidence that their contests will always live up to the Skillz promise of fairness."

The news comes a few months after Skillz purchased marketing company Aarki for $150 million in cash and shares.