ESL Gaming is around for over 2 decades and is together with FACEIT one of the biggest Esport tournament organizers in the world. The companies have announced that they will merge in an $1.5Bn deal.
Both company’s will come under the ownership of Saudi Arabian-back Savvy Gaming Group and will operate under the name ESL FACEIT Group. According to their factsheet this takeover is just the first of many as they have reserved over 30.bn to invest in the next five years.
In the official press release ESL FACEIT Group stated “ESL and FACEIT have both been fundamental to the incredible growth of esports and competitive gaming globally, with over thirty years combined in the industry. Together, they will form a new driving force in the fast-growing but fragmented esports landscape at a critical time in the evolution of the industry.”
“The deal will combine ESL’s expertise in building, broadcasting, and commercializing premium esports ecosystems, including arena and festival events, with FACEIT’s capabilities in developing best-in-class tools for competitive games and a leading social network of competitive players.”
They will begin with showing their combined expertise in CS:GO where they will “allying to fight cheating even more effectively “ and “Support the development of local scenes by funding third party local organizers”.