After two years of the Covid-19 pandemic, the esports industry hoped for a renaissance in 2022. Instead, this year started on the right foot with the merger between ESL Gaming and FACEIT, the most critical association in years.
Other vital moments were also experienced, such as going public with FaZe Clan. In addition, savvy Games Group is announcing one of the most prominent esports investment funds and ReKT Global, being acquired for almost 500 million dollars.
The formation of the ESL FACEIT Group
Last January, the merger of ESL Gaming and FACEIT took place, being the most powerful investment story of 2022. As a result of the union, ESL FACEIT Group was created, considered one of the largest companies in the world focused on e-sports.
Savvy Games Group is an investment company that purchased the two companies ESL Gaming and FACEIT. This merger, valued at one billion dollars, allowed each company to pursue its projects.
ESL FACEIT Group aims to promote excellent stability for North American CS:GO. In addition, support the development of local esports scenes and improve incentives for professional teams.
FaZe Clan goes public
The news of FaZe Clan’s IPO was a significant moment in esports.
On July 20, 2022, FaZe Clan went public on the New York Stock Exchange in a merger with SPAC in a deal valued at $725 million.
The company’s total value is approximately $1 billion, making FaZe Clan the first organization to be considered a unicorn in esports.
The transaction will see the new entity, FaZe Holdings, receive an injection of cash over the years. These funds will finance organic and inorganic growth as FaZe expands its presence in content, gaming, entertainment, consumer products, and the metaverse.
Major Moves for Misfits Gaming Group
Misfits Gaming Group (MGG), one of the most popular companies in Europe and North America, made drastic changes in 2022. The company decided to move away from e-sports and focus on content creation.
The change of direction was evident after selling a large percentage of its stake in the LEC. For the creation of a multi-million-dollar fund for content creators.
This new fund allows Misfits to finance many different content-creation projects. These will be broadcasted on television, YouTube, and other streaming platforms.
ReKT Global acquired by Infinite Reality
ReKT Global was acquired this 2022 by metaverse entertainment and production company Infinite Reality for $470 million. The merger involves an integration of all ReKT properties into Infinite Reality, including talent management, teams, technology products, esports teams, and marketing.
This merger positions Infinite Reality as a significant player in esports. It is also important to note that in December 2022, it began public trading.
FlyQuest acquired by Florida Panthers owners
The American organization FlyQuest has been acquired by the Viola family office, owner of the NHL team Florida Panthers.
FlyQuest is known for being a non-profit organization that supports environmental causes. In addition, it has made the organization known as one of the most environmentally friendly e-sports teams.
FlyQuest’s most considerable success came when the organization qualified for the League of Legends Worlds 2020. This is echoed by the new owners who want FlyQuest to expand its titles in the future.
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