Complexityʼs parent company to acquire FaZe

Esports holding GameSquare, the owner of Complexity, is acquiring FaZe. This was reported on the company's official website.

Both GameSquare and FaZe executives have approved the transaction, which is expected to be officially closed in the Q4 of 2023. At the same time, after the merger, FaZe management will retain their leadership positions within the organization.

The exact cost of acquiring FaZe remains undisclosed. Journalists estimated that if the deal were to close at the club’s current market capitalisation, GameSquare would pay approximately $16 million.

Notably, at the beginning of this year, FaZe encountered serious financial problems, leading to a significant drop in the value of their shares. This is why information appeared about the organization's possible sale. In May, one of the club's founders said that multigaming loses about $700K on esports monthly.

GameSquare is a big North American esports company, which owns such assets as Complexity, the Code Red Esports agency, the LGD team in the Crossfire game, as well as the R7 roster in League of Legends. At the moment, it is unknown how GameSquare resolved a potential conflict of interest that arises from FaZe's acquisition, as this team regularly faces Complexity at all big Counter-Strike tournaments.