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In one of the biggest developments from the Esports industry in recent times, it has been revealed that ESL Gaming (the world’s leading independent Esports company) and FACEIT (leading digital destination for competitive gamers) have agreed to come together in a historic merger deal.
Notably, the reported fees is estimated to be around $1.5 billion invested by Savvy Gaming Group (which is fully owned by PIF, Saudi Arabia’s sovereign wealth fund). The merged association is set to operate and function under the new name - ESL FACEIT Group. The details of the incredible association were revealed through an official press release.
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It stated, "The new company will create the ultimate platform for competitive gaming with an unmatched proposition for players, fans, teams, publishers, developers, and partners, no matter where they are on their competitive gaming journey. The ESL FACEIT Group will now come under the new ownership of Savvy Gaming Group (SGG), taking over from previous owners MTG. The deal is subject to regulatory approval and is expected to close in Q2 2022."
With more than 30 years of combined experience in the industry, ESL and FACEIT now aim to take the gaming industry to new heights in coming years. All the gamers, publishers and partners can get ready for a revolutionary change in the Esports business, with everything coming together at one platform.
Leadership structure of new ESL FACEIT Group
Co-CEOs: Craig Levine and Niccolo Maisto
Executive Chairman: Ralf Reichert
What did the CEOs say post this huge merger?
The Co-CEOs of ESL FACEIT Group were pretty excited about the historic merger as they claimed that the backing of SGG (investors) and the combined know-how, capabilities and resources will play a key role in their vision of doing some incredible things in the industry going forward.
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Craig Levine said, "Whether you are competing or watching, doing so socially or at a professional level, every stage of the pathway will be improved through this merger. For gamers, publishers, and partners, this is a hugely exciting proposition, to be able to take everyone on the journey from your first step into a competition to playing on the biggest Esports stages globally.”
Niccolo Maisto said," We are taking a long-term approach to developing a more robust platform to better support the future of the whole competitive gaming ecosystem and generate more value for all its stakeholders in a sustainable way."