Posted in: eSports, Games, Video Games | Tagged: FaZe Clan, GameSquare

GameSquare Announces Intention To Acquire FaZe Clan

FaZe Clan, one of the biggest names in all of esports, is getting a new owner as GameSquare announced their intent to acquire the brand.

In a move that may have the potential to cause a major shift in the esports landscape, GameSquare Holdings announced this morning they are acquiring FaZe Clan. The announcement came down early this morning as GS revealed their intent to combine the two companies, as they seek to become a powerhouse in a "progressive end-to-end platform of leading media and agency organizations, gaming and esports teams, creative services, and technology capabilities." The finer details of the deal haven't been revealed, and it isn't even clear beyond top spots who will remain with the company when the acquisition happens. But they were keen to mention that they expect $18 million in run-rate cost savings from the FaZe Clan acquisition, as they plan to give the esports organization guidance once the deal is closed. We have a few quotes from today's announcement for you below.

"The gaming community represents one of the largest and most engaged segments of the attention economy," stated Justin Kenna, CEO of GameSquare. "The acquisition of one of the biggest names in gaming serves as a perfect illustration of how we have built a powerful infrastructure with an expansive scale that we can use to leverage the full spectrum of resources within the GameSquare ecosystem. We are also thrilled to welcome back the founders of FaZe Clan and their fans, one of the most deeply engaged communities born on the internet."

"I'm confident that with Tommy, Apex, and me back in charge of the brand, FaZe Clan will get back to where it was in its peak years," stated Richard "FaZe Banks" Bengtson, who will take on the CEO role of FaZe Clan after the transaction closes. "We grew up on the internet and understand this brand better than anyone ever could. We are grateful to have found a partner in GameSquare who sees that value in us and can help execute our vision. We're going to produce first, talk later."

"Joining forces with GameSquare creates greater scale and exciting opportunities in the emerging market for gaming and youth culture," stated Christoph Pachler, Interim CEO of FaZe Clan. "The strength of the FaZe brand and GameSquare's infrastructure are a powerful combination that will enable FaZe shareholders to benefit from the combined company's long-term value creation potential."

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