In Massive Esports Deal, ESL Gaming and FACEIT to Merge Under Saudi-Backed Ownership Group The newly created company instantly becomes a behemoth in esports-production market By Jason Dachman, Chief Editor
Tuesday, January 25, 2022 - 12:40 pm
Print This Story | Subscribe
Story Highlights
In a deal that drastically reshapes the esports-production sector, ESL Gaming and FACEIT have announced plans to merge under the name ESL FACEIT Group. The deal brings two of largest esports tournament/league organizers in the world together under the new ownership of Savvy Gaming Group (SGG). The deal, which is reportedly worth $1.5. billion, is subject to regulatory approval and is expected to close in Q2 2022.
SGG, which is fully owned by Saudi Arabia's sovereign wealth fund PIF, takes over from ESL's previous owners MTG (Modern Times Group) while FACEIT is a privately owned company. According to a joint announcement, The Saudi-backed PIF was set up in 2021 to help drive the long-term growth and development of the global gaming industry.
ESL and FACEIT, who boast over 30 years combined in the industry, will retain their leadership teams in the new group, with a new structure that would see Craig Levine and Niccolo Maisto as co-CEOs. Ralf Reichert, co-founder of ESL, will move into a non-operational role as Executive Chairman, supporting the leadership team.
The deal will combine ESL's expertise in building, broadcasting, and commercializing esports ecosystems, including arena and festival events, with FACEIT's capabilities in developing tools for competitive games and a social network of competitive players.
Together, ESL & FACEIT will deliver an end-to-end solution that supports game publishers and developers to build sustainable competitive gaming communities and esports ecosystems, according to the joint statement. The newly formed company says it can offer gamers, publishers, and partners a consistent journey from casual competitions to arena events on one platform. The joint statement also states that ESL FACEIT Group will continue to embrace both companies' shared values and strategic goals, and promote the creation of engaging, accessible, and socially competitive experiences for gamers around the world.
ESL CEO Craig Levine says: Our mission remains unchanged: to create a world where everybody can be somebody. Our merger with FACEIT, along with the backing of SGG, will give us more know-how, capabilities, and resources than ever before to deliver on this vision. 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 competition to playing on the biggest esports stages globally.
FACEIT CEO Niccolo Maisto says: In the past years, ESL and FACEIT had a significant positive impact for the growth of the esports industry, bringing a variety of propositions for players, teams, publishers, and developers. By uniting these complementary capabilities, and with the backing of SGG, we are taking a long-term approach to develop 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.
Brian Ward, CEO of SGG says: SGG has committed to invest heavily in the games and esports industry and to materially strengthen the global games community. We are delighted to be working with ESL FACEIT Group - a deal that will enable us to actively support the creation of a world-class esports ecosystem. With our investment, ESL FACEIT Group will be able to accelerate their development of an unrivaled experience for players and fans .
For more on ESL FACEIT Group product team's plans going forward, check out this community blog post.
Most recent headlines
04/08/2024
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet, a leading technology and service provider for media-rich organizations, a...
30/04/2024
By Adam Piron
In anticipation of this edition of the Indigenous Program's Native Lab, it actually dawned on me that this will be our lab's tenth year i...
30/04/2024
Launch of SBS South Asian channel and SBS Spice, a new English language offering...
30/04/2024
LOS ANGELES (April 30, 2024) Light Iron, the post-production creative-services division of Panavision, is excited to announce that lodie Ichter has joined th...
30/04/2024
Now streaming on Netflix, Good Grief marks the feature-film directorial debut of Daniel Levy, well known as the co-creator and costar of the series Schitt's...
30/04/2024
The Forsyte Saga, John Galsworthy's sweeping portrait of a wealthy British family in 1880s London, is getting its third TV adaptation in less than 60 years....
30/04/2024
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({...
30/04/2024
CAMPBELL, Calif. Streaming media company Plex and T-Mobile will work together to expand T-Mobile's connected TV (CTV) inventory and advance the connection b...
30/04/2024
SAN JOSE, Calif. & BELLEVUE, Wash. Roku, Inc. has announced an expanded measurement partnership with iSpot.tv, the cross-platform TV measurement company....
30/04/2024
NEW YORK As Paramount Global wrestled with management turmoil and ongoing negotiations for a proposed merger with Skydance, the company managed to report improv...
30/04/2024
Cobalt Digital Receives Trifecta of Awards at NAB 2024
Company adds two 2024 NAB Show Product of the Year awards and one Best of Show from TV Tech to long list...
30/04/2024
arkona technologies GmbH, provider of IP core infrastructure solutions for top-tier broadcast productions, has announced that its BLADE//runner IP Audio Engine ...
30/04/2024
OpenDrives, Inc., the global provider of software-defined media workflow solutions and data management capabilities, announced today that it has joined the glob...
30/04/2024
The first norm conform sustainability service dedicated to the needs of the events industry
Easy-to-use, intuitive platform for venues, event organisers and su...
30/04/2024
Dejero GateWay enables Stream7 to create independent internet connectivity at any venue or location, including UK teaching hospital for live streaming of surgic...
30/04/2024
Excitement is building as farmerswife, a leading software provider for resource scheduling, project management, and team collaboration in the media industry, ha...
30/04/2024
XL8, a leading deep-tech startup specializing in AI-powered machine translation technology, proudly announces the successful completion of a System and Organiza...
30/04/2024
Test & measurement innovator, Leader Electronics of Europe, has announced that it will exhibit at CABSAT, which takes place this year from 21-23 May 2024 at the...
30/04/2024
MRMC Debuts Cinebot Max Camera Robot at NAB 2024
Brie Clayton April 30, 2024
0 Comments
Expands its range of live-action, motion-control camera robots...
30/04/2024
Next Jazz Legacy Announces 2024 Cohort of Women and Nonbinary Awardees The program was created by New Music USA and the Berklee Institute of Jazz and Gender J...
30/04/2024
European telecom satellite company SES announced today that it is acquiring rival Intelsat for $3.1 billion. The deal, unanimously approved by both companies...
30/04/2024
Bob Bakish, chief executive of Paramount stepped down on Monday, effective immediately. Bakish, who was a staunch ally of Shari Redstone, controlling shareholde...
30/04/2024
Hotspring said the breakthrough had been achieved through the acceleration of machine learning technology
By Matthew Corrigan
Published: April 30, 2024
Ho...
30/04/2024
Speaking about the deal, Adel Al-Saleh, CEO of SES, said: it will bring value-added, efficient, and reliable offerings for both companies media customers
By Je...
30/04/2024
Paramount said the Office of the CEO is working with its board to develop a comp...
30/04/2024
LOUISVILLE, Ky. In another sign that broadcasters are finally using NextGen TV broadcasts to offer viewers new features instead of simply simulcasting existing ...
30/04/2024
OKLAHOMA CITY The Oklahoma Journalism Hall of Fame will induct Blaise Labbe, a group news director for Sinclair Broadcast Group, May 2 at the 54th Anniversary I...
30/04/2024
ATLANTA and ENGLEWOOD, Colo. Cox Media Group and Dish have ended a dispute over retransmission fees that lasted nearly a year and a half with a new multi-year ...
30/04/2024
Video transport solution provider LTN has announced that it is working with TelevisaUnivision to help the Spanish-language media giant migrate to IP-based video...
30/04/2024
ALAMEDA, Calif. Clear-Com has released details about how it played a pivotal role in the seamless coverage of the recent solar eclipse on April 8, 2024 by NBC K...
30/04/2024
CINCINNATI The E.W. Scripps Company is adding Seth Walters to its sales leadership team as head of CTV sales, effective April 29....
30/04/2024
The force was strong at the Durham Bulls Athletic Park on Saturday night, April 27, 2024, as the night netted the ballpark's first official sellout crowd of...
30/04/2024
Revry, a network celebrating queer culture. said its second annual NewFront presentation will be a cabaret-type spectacle showcasing the spirit of the LGBTQ+ co...
30/04/2024
Family Entertainment Television (FETV) said that the Western series The Life and Legend of Wyatt Earp will be joining the network's afternoon lineup startin...
30/04/2024
Bob Bakish, president and CEO of Paramount Global, will depart the company as Paramount explores a merger, according to numerous published reports. The reports ...
30/04/2024
April 30th, 2024 Press Materials Available Here
TRIBECA FESTIVAL 2024 ANNOUNCES TALKS, REUNIONS, & RETROSPECTIVES
Live Conversations with Judd Apatow, Andy C...
30/04/2024
6 minute read
Share
alt=Alternative descriptive text class=lazyload main main-lazyloaded responsive-image data-v-1a5ebb10>
Telenor showed good momentum...
30/04/2024
SES Acquiring Intelsat to Create New Satellite Giant; Will Offer Improved Reach ...
30/04/2024
Wuppertal April 30, 2024
WDR Filmhaus to Implement Riedel Infrastructure Award-Winning MediorNet HorizoN Hybrid Processing Platform Serves as Bridge to IP
Ri...
30/04/2024
Back to All News
Tilda Swinton Joins Colin Farrell in Edward Bergers The Ballad...
30/04/2024
Back to All News
Netflix Reveals First Look Images and Teaser from Senna, Inspi...
30/04/2024
Back to All News
Top 10 Week of Apr. 22: Baby Reindeer' and Rebel Moon - ...
30/04/2024
Dr. Nicola Hodson, Chief Executive, IBM UK & Ireland introduces the UK findings of an IBM study on female leadership in the age of AI
Advances in Artificial In...
30/04/2024
Channel Expansion, and New Codecs, Compression and Transport Technology Among Latest Updates...
30/04/2024
Accel-KKR Credit Partners today announced that it has provided debt financing to support Dalet in its next chapter of innovation and growth. Accel-KKR Credit Pa...
30/04/2024
Skeem Saam: Monday's episode, 29 April 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African soa...
30/04/2024
Tonight on Skeem Saam: Lewatle witnesses an explosive fight between Sthoko and B...
30/04/2024
RT News is pleased to announce the appointment of David Murphy as its new Economics & Public Affairs Correspondent. David is currently RT 's Political Cove...
In Massive Esports Deal, ESL Gaming and FACEIT to Merge Under Saudi-Backed Ownership Group The newly created company instantly becomes a behemoth in esports-production market By Jason Dachman, Chief Editor 
