Today gaming firm MTG AB announced that it has sold esports gaming company ESL Gaming to Savvy Gaming Group (SGG). The Company was sold at an enterprise value of $1.05 billion.
At the same Savvy Gaming Group purchased competitive multiplayer technology platform outfit FACEIT. Both companies will be formed into the ESL FACEIT Group.
The acquisition will be subject to regulatory approvals and is expected to close in Q2 2022.
Leadership for both ESL and FACEIT will remain the same within the new company with Craig Levine and Niccolo Maisto serving as co-CEOs.
Co-founder of ESL Ralf Reichert will move into the role of executive chairman.
“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,” said Levine.