mynth
06/2026

CVC invests in CHESS.COM

UNITED STATES Software / Gaming & Consumer Apps REV 100M - 200M USD

Context

CVC Capital Partners has announced an investment in Chess.com, the world’s largest online chess platform, alongside General Atlantic, the company’s longstanding investor, which will remain a shareholder. The transaction marks CVC’s entry as an investor in Chess.com to support the platform’s continued development and its expansion within the global chess community. The investment reflects CVC’s strategy of backing companies operating at the intersection of sports, digital entertainment, online communities and consumer experiences. Leveraging its experience across community-driven platforms, live events, sports organisations and media businesses, CVC aims to support Chess.com’s future growth, including through the development of new content formats, live events, partnerships and enhanced user engagement. Since its creation, Chess.com has built a global ecosystem around online chess, combining competitive play, game analysis, educational resources, tournament coverage and social features. The platform has benefited from growing worldwide interest in chess, supported by cultural phenomena, the expansion of creator communities and the increasing popularity of chess-related content across digital channels. The transaction is intended to strengthen Chess.com’s position as the leading digital destination for chess players and fans globally, while creating new opportunities to expand the reach and visibility of the game. Goldman Sachs acted as exclusive financial advisor to Chess.com in connection with the transaction.

CHESS.COM, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Chess.com operates the world’s largest online chess platform, providing a suite of interactive services to a global membership exceeding 250 million individuals. Daily activity reaches approximately 10 million users who engage in live matches, automated game analysis, tactical puzzles, instructional lessons, and a curated library of video courses. The platform also delivers live streaming of major tournaments, hosts a social forum for player interaction, and maintains a marketplace for chess‑related content. Founded two decades ago, the company has expanded its reach through partnerships with broadcasters, educational institutions, and a network of independent content creators. Its technology stack supports cross‑platform access via web browsers, iOS, and Android applications, enabling seamless play across devices. Revenue is generated through tiered subscription plans, advertising placements, and premium instructional products, while a small proportion derives from corporate sponsorships tied to event coverage. Chess.com’s workforce of more than 650 employees functions entirely remotely, coordinating product development, community management, and customer support from multiple geographic locations. Recent growth has been fueled by cultural catalysts such as a popular television series, viral social‑media trends, and an expanding creator ecosystem that produces original instructional material. The company’s stated mission emphasizes accessibility, enjoyment, and reward for players at every skill level, guiding ongoing feature development and community initiatives.

Ent. Value

LOGIN

Equity Value

LOGIN

Multiples

EV / Revenue

LOGIN

EV / EBITDA

LOGIN

EV / EBIT

LOGIN

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2025
LOGIN
LOGIN
LOGIN
2024
LOGIN
LOGIN
LOGIN

Similar deals in TMT (Tech, Media, Telecom)

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
DateAcquirerTargetCountrySectorDeal Context
07/2026ARDIAN / EURAZEO / UBSHR PATHFRANCESoftware

HR Path has entered a new phase of development through a transaction led by Ardian, which is extending its long-term support for the Group through a continuation fund. The transaction reinforces the partnership established in 2024 and reflects investors' confidence in HR Path's long-term growth strategy, while allowing the company's founders, partners, and employees to retain a majority ownership position. The operation also attracted broad participation from an international group of investors, highlighting the strength and scalability of HR Path's business model

07/2026BRIDGEPOINTSKELLOFRANCESoftware

Bridgepoint Development Capital has announced an investment in Skello, a French provider of a human resources management platform dedicated to frontline teams. The transaction marks a new phase in Skello’s development, with Bridgepoint becoming a lead minority shareholder alongside the founders, management team and historical investors Partech and XAnge, which are also reinvesting in the company. The investment reflects Bridgepoint’s lower mid-market strategy of supporting fast-growing European technology companies with differentiated market positions

06/2026VEEVA SYSTEMSCOPLIDENMARKSoftware

Veeva Systems has acquired Copli, a company specializing in artificial intelligence solutions for Medical, Legal, and Regulatory (MLR) review processes in the life sciences industry. The acquisition marks the integration of Copli into Veeva, with the immediate launch of Veeva Falcon MLR, a new AI-powered solution designed to automate the validation cycles of promotional and medical content. The goal of this acquisition is to transform a historically manual and time-consuming process by introducing intelligent agents that can automatically execute compliance checks

06/2026ASYSM-WORKFRANCESoftware

The acquisition of m-work shifts Asys’s product perimeter from legacy time-and-attendance tracking into upstream collaborative workforce scheduling and hybrid physical asset optimization. Executed with follow-on programmatic M&A backing from CAPZA through its Growth Tech investment vehicle, this transaction accelerates Asys’s product roadmap by injecting native AI capabilities into its core scheduling engine to target pan-European corporate accounts. The industrial logic relies on immediate cross-sell dynamics, unlocking monetization opportunities for m-work’s module within Asys's established footprint of 1

06/2026INTEGRATED MEDIA COMPANYPLAYSTACKUNITED KINGDOMSoftware

Integrated Media Company (IMC), through its subsidiary VantageCo Limited, has completed the acquisition of Playstack Limited, a leading independent UK-based video game publisher specializing in digital title releases across PC, console, and mobile platforms. This strategic move enables IMC, owner of several major media and digital entertainment brands, to bolster its presence in the gaming ecosystem by integrating a renowned player with a proven track record of identifying, funding, and commercializing high-potential independent games

06/2026WALMARTVIBEUNITED STATESSoftware

Walmart has entered into an agreement to acquire Vibe, a leading connected TV advertising specialist founded by French entrepreneurs Arthur Querou and Franck Tetzlaff. The transaction, which is subject to customary regulatory approvals, is part of Walmart's strategy to bolster its advertising capabilities and accelerate the growth of its retail media ecosystem. This acquisition enables Walmart to gain a cutting-edge technology platform in the connected TV segment, a critical advertising channel for brands seeking to combine targeting, performance measurement, and access to massive audiences

06/2026FRANCISCO PARTNERSEFFICIENTIPFRANCESoftware

Francisco Partners has entered into a definitive agreement to acquire EfficientIP, a French specialist in network infrastructure management and security solutions, from its founders and minority investors, in partnership with the company's management team. The transaction aligns with the fund's strategy of investing in software publishers positioned in critical and high-growth technology markets. As part of the deal, founder and CEO Norman Girard will remain at the helm of the company, while the historical founders will reinvest a portion of their stake, demonstrating their alignment with the new shareholder

06/2026PERMIRA / WARBURG PINCUSCLEARWATER ANALYTICSUNITED STATESSoftware

Clearwater Analytics has been acquired by an Investor Group led by Permira and Warburg Pincus, with participation from Francisco Partners and Temasek. The transaction was presented to Clearwater’s shareholders following a special committee review and received board approval and majority shareholder consent, resulting in the delisting of the company’s Class A common stock from the New York Stock Exchange. The acquisition provides the private‑equity consortium with full ownership, enabling the infusion of capital and strategic guidance aimed at accelerating Clearwater’s artificial‑intelligence roadmap and next‑generation platform development

06/2026THOMA BRAVOPADOAFRANCESoftware

Five Arrows has sold Padoa to US-based Thoma Bravo in a landmark leveraged buyout (LBO) aimed at supporting the company's next phase of growth. This transaction marks a significant milestone in Padoa's evolution, as the company comes under the control of a specialized investor in B2B software and technology, renowned for its expertise in backing accelerating software publishers. The deal, which was highly contested among international investors, reflects the attractiveness of the healthcare software sector and the high quality of the asset

06/2026SCHNEIDER ELECTRICCOGNITENETHERLANDSSoftware

Schneider Electric is acquiring Cognite Holding B.V., a provider of cloud‑native industrial data and AI software, to extend its digital portfolio and reinforce its position in industrial automation. The agreement, announced in June 2026, outlines an all‑cash transaction that will transfer 100% of Cognite's share capital to Schneider, subject to customary closing conditions and regulatory approvals. Integration plans place Cognite within Schneider's AVEVA software business, aligning the two platforms under a unified industrial intelligence framework

REFERENCES

Revenue range: 100M - 200M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of CHESS.COM by CVC are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: chess.com

Acquirer: cvc