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The ESL has been bought and merged with fellow esports company FACEIT in a deal worth $1.5 billion USD.
The Savvy Gaming Group are the group responsible for the deal (as per GamesIndustry.biz). They’re a holding company owned by the Saudi Arabia Public Investment Fund. Both the ESL and FACEIT are merging to form the ESL FACEIT Group. The new coalition says they aim to “create the ultimate platform for competitive gaming”.
An announcement post introduced the new venture. “For years, both companies have been developing projects independently in esports. Today we are teaming up to create more integrated, accessible and sustainable ecosystems for fans, players and teams of multiple games.”
First launched all the way back in 2000, the ESL started life as an online gaming league. Since then, the company has grown into the world’s largest esports organisation, with partnerships with games like Counter Strike, DOTA 2 and many, many more. Meanwhile, FACEIT were founded in London in 2012 and have also administered leagues for a number of games including Rocket League. Both companies’ events are often considered among the most prestigious in the gaming Esports calendar.
The new group has already outlined their first steps together, including near-term plans for the Counter Strike: Global Offensive community. Both companies have pledged to share resources to combat cheating, supporting local esports scenes and expanding grassroots programs. They’ve also pledged to reward fans for watching Esports events and connect them with Esport content creators.
It’s been quite a busy month for big-money gaming deals. Aside from this ESL deal, Zynga was bought by Take Two for $12.7 billion earlier this month. And of course, there was the small matter of Microsoft buying Activision Blizzard for $68.7 billion last week.
ESL 🤝 FACEIT
Esports is about starting your own path, challenging your game, and becoming a world champion one day. This is at the core of what FACEIT and ESL have built independently; until now. We are teaming up.
Read about our shared vision here: https://t.co/ZAPdLr9AhZ pic.twitter.com/O9H34vh1fD
— ESL (@ESL) January 24, 2022