What Happened to Play Magnus Group?
Play Magnus Group, co-founded by World Chess Champion Magnus Carlsen, was a Norwegian chess technology company that grew through various acquisitions of popular chess brands and platforms. It was publicly listed on the Oslo Stock Exchange before being acquired by Chess.com in December 2022, integrating its assets and operations into the larger online chess platform.
Quick Answer
Play Magnus Group was acquired by Chess.com in December 2022 for approximately US$82.9 million, ceasing to exist as an independent entity. Its portfolio of chess brands, including Chessable, chess24, and the Champions Chess Tour, are now integrated under the Chess.com umbrella. Magnus Carlsen, a co-founder of Play Magnus Group, subsequently became an ambassador for Chess.com, solidifying the combined entity's dominant position in the online chess market. As of 2026, the integration is complete, and Play Magnus Group's former operations are fully part of Chess.com.
📊Key Facts
📅Complete Timeline13 events
Play Magnus AS Founded
World Chess Champion Magnus Carlsen co-founded Play Magnus AS with Espen Agdestein and Anders Brandt, aiming to make chess more accessible globally.
Launch of Play Magnus App
The company released its first product, the 'Play Magnus' mobile app, allowing users to play against a chess engine modeled after Magnus Carlsen.
Acquisition of Chessable
Play Magnus Group acquired Chessable, an interactive marketplace and platform for learning chess, significantly expanding its educational offerings.
Merger with chess24
Play Magnus AS merged with the popular chess website chess24, consolidating its operations and forming the Play Magnus Group.
Listed on Oslo Stock Exchange
Play Magnus Group was listed on the Oslo Stock Exchange's Merkur Market, raising NOK 300 million and achieving a valuation of NOK 796 million.
Acquisition of iChess.net
The group acquired U.S. website iChess.net, further expanding its content and community reach.
Launch of Champions Chess Tour
Play Magnus Group launched its professional online chess tournament series, the Magnus Carlsen Chess Tour (later Meltwater Champions Chess Tour), gaining significant viewership.
Acquisition of New in Chess
The company acquired the Dutch chess magazine 'New in Chess', adding a prominent publishing brand to its portfolio.
Acquisition of Everyman Chess and Aimchess
Play Magnus Group acquired the publisher Everyman Chess and the chess analytics website Aimchess, continuing its expansion in content and tools.
Chess.com Acquisition Offer Announced
Chess.com announced a voluntary cash offer to acquire all outstanding shares of Play Magnus Group for NOK 13.00 per share, valuing the company at approximately US$82.9 million.
Acquisition by Chess.com Officially Closed
After regulatory and shareholder approval, the acquisition of Play Magnus Group by Chess.com officially closed, marking the end of Play Magnus Group as an independent entity.
Resolution to Delist Shares
An extraordinary general meeting of Play Magnus Group resolved to apply for the delisting of its shares from Euronext Growth Oslo.
Magnus Carlsen Becomes Chess.com Ambassador
As part of the acquisition, Magnus Carlsen officially signed on as a Chess.com ambassador, committing to regular participation in their events.
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🔍Deep Dive Analysis
Play Magnus Group was established in October 2013 by World Chess Champion Magnus Carlsen, his manager Espen Agdestein, and entrepreneur Anders Brandt, with the mission to make chess more accessible and to grow the game globally. The company's initial offering was the 'Play Magnus' mobile app in 2014, which allowed users to play against a chess engine modeled after Carlsen's own game. Over the years, Play Magnus Group expanded its offerings, launching additional apps like Magnus Trainer and Magnus' Kingdom of Chess, and began to consolidate various chess-related businesses.
A significant turning point for the company came in 2019 when Play Magnus AS merged with the popular chess website chess24, forming the Play Magnus Group. This merger was followed by a series of strategic acquisitions, including Chessable (an interactive learning platform) in February 2019, iChess.net in November 2020, the Dutch magazine New in Chess in February 2021, and publisher Everyman Chess in May 2021. The group also acquired Aimchess, a chess analytics website, and the website of Grandmaster Simon Williams (GingerGM.com) in 2021. In October 2020, Play Magnus Group was listed on the Oslo Stock Exchange, raising NOK 300 million (approximately US$30.2 million) and achieving a valuation of NOK 796 million (approximately US$85.8 million).
Despite its aggressive expansion and public listing, Play Magnus Group faced challenges in achieving sustainable profitability across all its ventures, with reports indicating that only Chessable was consistently generating profit. The company's business model, particularly for high-class tournament commentaries on chess24, struggled to attract sufficient subscribers. This financial pressure, coupled with a desire to balance growth and profitability in a competitive market, set the stage for a major strategic shift.
In August 2022, Chess.com, the world's largest online chess platform, announced a voluntary cash offer to acquire 100 percent of Play Magnus Group's shares at NOK 13.00 per share, valuing the company at approximately NOK 798 million (US$82.9 million). The board of Play Magnus Group unanimously recommended the offer. After receiving regulatory and shareholder approval, the acquisition officially closed on December 16, 2022. As part of the deal, Magnus Carlsen also signed on as a Chess.com ambassador, agreeing to participate regularly in Chess.com events.
Following the acquisition, an extraordinary general meeting of Play Magnus Group resolved to apply for the delisting of its shares from Euronext Growth Oslo, which occurred shortly thereafter. The former independent entity of Play Magnus Group effectively ceased to exist, with its various brands and operations being integrated into Chess.com's extensive ecosystem. As of August 26, 2026, the integration of Play Magnus Group's assets, including its learning platforms, content, and the Champions Chess Tour, into Chess.com is complete, consolidating Chess.com's position as the dominant force in online chess entertainment and education.
What If...?
Explore alternate histories. What if Play Magnus Group made different choices?