Savvy Gaming Group, a company backed by the Saudi Arabian government, has purchased ESL Gaming and FACEIT, two of the largest esports companies in the world, for $1.5billion (approximately £1.1billion).
“ESL Gaming, the world’s leading independent esports company, and FACEIT, the leading digital destination for competitive gamers, are joining forces to shape the future of competitive gaming under the name ESL FACEIT Group.” the company said in a statement. It continued; “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.”
ESL CEO Craig Levine said of the merger; “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.”
Brian Ward, CEO of SGG added said: “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 unrivalled experience for players and fans”.
