News Release
GameSquare Sells Complexity Gaming for $10.36 Million
MarketJar
The esports industry is abuzz with M&A activity as major players stake their claim in the market. On Friday, GameSquare Holdings announced the sale of its esports team Complexity Gaming for $10.36 million to the team’s founder, Jason Lake. GameSquare, which bought Complexity back in July 2021 for $27 million, said the esports franchise has experienced significant growth under their ownership, with sales soaring by over 175%. 1 The company also brought on big-name streamers like Ninja and TimTheTatman as investors during that period and increased its social media followers “tenfold.” Another major deal that just hit the esports market is OverActive Media’s (TSXV:OAM) (OTC:OAMCF) acquisition of Spanish esports organizations KOI and Movistar Riders, which has created a global esports powerhouse with over 100 million followers. OverActive Media Creates Global Esports Powerhouse with Major Acquisition The acquisition of KOI and Movistar Riders is the largest in OverActive Media’s history, expanding its global footprint to fast-growing international markets and bringing with it a diverse range of superior esports assets. KOI, a leading esports organization in Europe, was co-founded by the globally renowned Twitch streamer Ibai Llanos and soccer legend Gerard Piqué, formerly of FC Barcelona. Under Ibai's influence, KOI rapidly ascended to become one of Europe's premier brands. Gerard Piqué, known for his victories with FC Barcelona and Manchester United at the FIFA World Cup and UEFA EURO, initiated the Kings League in 2022. This league quickly emerged as one of the most followed sports channels on digital platforms, amassing over 100 million views in 2023. OverActive Media has secured service contracts with both Ibai and Gerard. Movistar Riders, another top esports organization in Spain, competes in popular games such as League of Legends, CS2, VALORANT, and FIFA through its partnership with the Atlético de Madrid team. It maintains a long-term multi-million-dollar partnership with multinational telecom leader Telefónica, which just renewed its sponsorship for three years and is now a shareholder in OverActive Media.. “These acquisitions bring significant synergies and opportunity to OverActive, and we are already seeing their impact across our audience numbers, engagement levels, sponsorships and renewals,” said Adam Adamou, CEO of OverActive. “We are filled with the enthusiasm that comes from seeing our combined vision come together into something that is far greater than the sum of the parts.” KOI and Movistar joins OverActive Media (TSXV:OAM) (OTC:OAMCF) roster of widely popular esports team franchises, including the Toronto Ultra in Call of Duty League, the MAD Lions for the League of Legends EMEA Championship and the Toronto Defiant in the Overwatch Champion Series. OverActive Media expects the acquisitions to add C$10 million to C$12 million in revenues in 2024 and further bolster its ever-rising viewership numbers. Following the acquisition, OverActive Media successfully obtained approval from Riot Games for the transfer of a VALORANT Champions Tour EMEA Team Participation Agreement from KOI to operate the 'Movistar KOI' team for the 2024 VCT season. This strategic move significantly expands OverActive Media 's footprint in the esports industry and places the company in a highly competitive and visible segment of the esports market. VALORANT has quickly become one of the most popular and competitive games in esports, and participation at this level can attract sponsorships, fan engagement, and additional revenue streams. The Mad Lions KOI team has already made a splash, attracting 741,000 peak viewers in a regular season match in the League of Legends EMEA Championship (LEC) Winter Split in January, the highest since summer 2021. Co-founder Ibai further fueled this momentum by drawing over 4.7 million Twitch views, surpassing the Succession series premiere’s 2.93 million viewers. Another milestone was reached on February 18, during the LEC, with a record 830,816 viewers, the highest ever for a regular season match. Click here for more information about OverActive Media (TSXV:OAM) (OTC:OAMCF). [1] https://investors.gamesquare.com/news/news-details/2024/GameSquare-Announces-Sale-of-Complexity-Gaming-to-Jason-Lake-and-Global-Esports-Properties-for-US10.36-Million-/default.aspx Disclaimer 1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector. 2) The Article was issued on behalf of and sponsored by, OverActive Media. 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The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy. 4) The Article does not constitute investment advice. All investments carry risk and each reader is encouraged to consult with his or her individual financial professional. Any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on pressreach.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on pressreach.com. 5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article. 6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding OverActive Media’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. 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Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute OverActive Media’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) OverActive Media’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) OverActive Media’s ability to enter into contractual arrangements with additional parties; (e) the accuracy of budgeted costs and expenditures; (f) OverActive Media’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. 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Market Jar Media Inc. is neither an investment adviser nor a broker-dealer. The information presented on the website is provided for informative purposes only and is not to be treated as a recommendation to make any specific investment. No such information on PressReach.com constitutes advice or a recommendation. Contact Details James Young +1 800-340-9767 campaigns@pressreach.com Company Website https://pressreach.com
March 05, 2024 08:30 AM Eastern Standard Time
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