ESL and Faceit to merge in £1.12bn Savvy Gaming deal

Savvy Gaming Group has reportedly bought both ESL and Faceit in a $1.5 billion (£1.12bn) deal.

Owned by Saudi Arabia’s Public Investment Fund, which recently acquired Newcastle United, the deal aims to see the pair merge to form an end-to-end solution for the esports market. This could give gamers, publishers and partners a route from casual competitions to arena events on one platform, combing ESL’s broadcast and commercial experience with Faceit’s competition organisation. 

Regulatory approval is still needed, and the agreement and subsequent merging is expected to go through later this year.

Both companies are expected to keep their leadership teams, with ESL’s Craig Levine and Faceit’s Niccolo Maisto serving as co-CEOs, and ESL co-founder Ralf Reichert as executive chairman.

Levine said: “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. Whether you are competing or watching, doing so socially or at a professional level, every stage of the pathway will be improved through this merger.

“For gamers, publishers, and partners, this is a hugely exciting proposition, to be able to take everyone on the journey from your first step into competition to playing on the biggest esports stages globally.”