GameSquare Sells Complexity Gaming to Global Esports for $10.36 Million
**Complexity Gaming** esports organization has been sold by its parent company GameSquare for a staggering $10.36 million. This comes as GameSquare finalized the sale of the multi-game esports organization to Global Esports. It is worth noting that GameSquare had acquired Complexity Gaming just under three years ago for a substantial sum of $27 million.
The recent transaction effectively returns ownership of Complexity Gaming to its CEO and co-founder, Jason Lake. Global Esports, on the other hand, has made a name for itself in various esports competitions, with a particular focus on popular shooter games like Counter-Strike and Rainbow Six Siege.
**GameSquare’s Strategic Reinvestment Plans**
The CEO of GameSquare has expressed his thoughts on the sale, pointing out that the $10.36 million received from the sale of Complexity Gaming, coupled with the $3.40 million earned from the December 2023 sale of their Frankly radio business assets, has brought in a grand total of $13.76 million in value for shareholders. It is anticipated that these funds will be strategically reinvested into the business to facilitate the acquisition of FaZe Holdings.
At the time of the announcement, FaZe Holdings had a market capitalization of $14.00 million. The CEO emphasized that a key focus for creating long-lasting value for shareholders lies in increasing scale, enhancing capabilities, and optimizing assets.
**GameSquare’s Growth Strategy**
The sale of Complexity Gaming comes hot on the heels of GameSquare’s recent acquisition of FaZe Clan, a powerhouse brand in the world of gaming that is instantly recognizable to fans and players alike. With these significant moves, GameSquare aims to solidify its position in the esports industry and capitalize on valuable opportunities for growth.
Overall, this sale marks a significant milestone for Complexity Gaming and demonstrates GameSquare’s commitment to strategic decision-making that benefits both the organization and its shareholders. As the esports landscape continues to evolve, it will be intriguing to see how these developments shape the future of the industry.
Analyst comment
Positive news. The sale of Complexity Gaming for $10.36 million, returning ownership to CEO Jason Lake, shows strategic decision-making by GameSquare. These funds, along with the sale of their radio assets, will be reinvested to acquire FaZe Holdings. GameSquare aims to solidify its position in the esports industry, creating long-term value for shareholders. This marks a milestone for Complexity Gaming and indicates GameSquare’s commitment to growth and capitalizing on opportunities in the evolving esports landscape. The market is expected to respond positively to these developments.
