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ESL and FACEIT Acquired by Saudi Arabia’s Savvy Gaming Group.

Massive change of hands in esports domain where the two biggest names in esports organizers are acquired by Saudi Arabia’s Savvy Gaming Group.

The Modern Times Group has confirmed that it has sold Esport’s biggest organizer ESL to Saudi-based Savvy Gaming Group. Moreover, Savvy Gaming Group also acquired FACEIT, the deal means that now the biggest esports organizers have got new owners in Saudis.

Savvy Gaming Group Acquires ESL And FACEIT - Video Games

Savvy Gaming Group Acquires ESL And FACEIT – Video Games

It is reported that the deal is worth $1.5 billion, and the Savvy Gaming Group is fully owned by the PIF, Saudi Arabia’s sovereign wealth fund.

ESL is a popular name when it comes to competitive esports games. Some of the top events that it had organized are ESL One, Intel Extreme Masters, the ESL Pro Tour, and ESL Play.

These tournaments are pretty popular among the gaming communities associated with CSGO, DOTA2, and StarCraft. As for FACEIT, it is famous for its Esports Championship Series, it also hosted CSGO’s London Major in 2018.

As for the existing teams and leadership, sources claim that both FACEIT and ESL leadership will remain the same. Niccolo Maisto and Craig Levine will remain as co CEOs, while ESL’s Ralf Reichert will become exclusive chairman.

“By uniting these complementary capabilities, and with the backing of SGG, we are taking a long-term approach to develop a more robust platform to better support the future of the whole competitive gaming ecosystem and generate more value for all its stakeholders in a sustainable way,” Maisto shared his thoughts.

Savvy Gaming Group Acquires ESL And FACEIT

Savvy Gaming Group Acquires ESL And FACEIT

SGG is a promising group having five subsidiary companies; Savvy Esports Company, Savvy Ecosystem Company, Savvy Games Studios, Savvy Fund, and the Savvy Infrastructure Company.

Each group is committed to investing and supporting games and esports. The Savvy Gaming Group is led by Brian Ward who was the former head of worldwide studios at Activision Blizzard.

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Reinout te Brake

In a career spanning across 20+ years, Reinout te Brake has raised over 100+ Million Euros in Fundraising for a diversity of companies and has worked with several venture capitals firms. Helping gaming companies expand their brand reach, get the right story telling and make an impact on a global scale. Reinout te Brake has had the honor to counsel some of the major gaming companies operating on a global scale. For the last 12 years, he has devoted his major focus towards the niche of gaming consultancy to provide his insight and expertise to help gaming companies reach outstanding financial and business results.