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Gamesquare

All articles tagged with #gamesquare

business2 years ago•1 min saved

GameSquare Acquires FaZe Clan, Bringing Back OG Founders and Banks as CEO

Gaming analytics and esports brand company Gamesquare is acquiring gaming influencer group Faze Clan in an all-stock deal worth $17 million, a significant drop from Faze Clan's $725 million valuation after its SPAC merger last year. Faze Clan has struggled since going public, posting a $28.4 million loss in the first half of 2023. Under Gamesquare, Faze Clan's original founders will take leadership roles, and the company will operate as an independent division, re-engaging with its core fanbase. Gamesquare also owns esports brand Complexity, and the acquisition is expected to close in Q4 2023.

via The Verge|

#acquisition #business #esports

business2 years ago•2 min saved

FaZe Clan's Acquisition by GameSquare Signals Major Changes for Gaming Industry

Esports company GameSquare, backed by Dallas Cowboys owner Jerry Jones, is set to acquire FaZe Clan in an all-stock deal, valuing the struggling influencer and gamer brand at approximately $16 million. The combined company aims to leverage their media, agency, gaming, and technology capabilities, with a total annual revenue of around $138 million in 2022. FaZe Clan founders will be appointed to top positions within the brand, which will operate as an independent division of GameSquare. The deal is expected to close in Q4 2023, pending shareholder approval, and is projected to result in $18 million in cost-saving synergies.

via Variety|

#acquisition #business #esports

esports2 years ago•6 min saved

FaZe Clan Joins Forces with GameSquare Holdings in Landmark Merger

GameSquare, the esports company backed by Dallas Cowboys owner Jerry Jones, has acquired FaZe Clan, one of esports' oldest and most recognizable brands. The all-stock transaction merges the two companies, with FaZe stock accounting for approximately 45 percent of the firm's ownership. FaZe Clan, which has faced controversy and a collapsing share price, still holds significant value with its massive following of 260 million across social channels. The acquisition provides an opportunity for GameSquare to bolster its connections with the competitive gaming audience and potentially rerate its stock. FaZe Clan's creator-founders will return to leadership positions, and GameSquare aims to steer the brand back to its former glory. However, the challenge lies in attracting new sponsors and addressing the issue of toxicity and brand safety.

via Digiday|

#acquisition #controversy #esports

esports2 years ago•3 min saved

GameSquare recruits Ninja to revolutionize esports.

Tyler "Ninja" Blevins has joined GameSquare as its chief innovation officer to create authentic and amazing content. GameSquare is set to merge with Engine Gaming and Media to become one of the largest esports and media companies in the industry. The joint company debuts on the Nasdaq next Tuesday under the ticker symbol GAME, with billionaire Dallas Cowboys owner Jerry Jones also holding a majority stake in GameSquare Esports Inc.

via Fox Business|

#esports #gamesquare #merger