After Saudi Arabia Purchase, ESL Gaming and FACEIT merged into ESL FACEIT.
Saudi Arabia’s Public Investment Fund purchased ESL Gaming, an esports organizer, and FACEIT, a tournament platform (thanks Sports Business Journal). Final approval of the deal will be given once it has been certified by the law. After the acquisition has been approved, it is planned to merge the two companies into the ESL FACEIT Group, a new esports platform.
Saudi Arabia’s Public Investment Fund spent $1.5 million to purchase both companies. After the merger, the company will still be owned by Saudi Arabia. However, ESL CEO Craig Levine will lead the new organization and FACEIT CEO Niccolo Maito.
After Saudi Arabia Purchase, ESL Gaming and FACEIT merged into ESL FACEIT
A blog post by the ESL FaceIT website state.s that they plan to remain heavily involved in Counter-Strike: Global Offensive’s (CS: GO). They listed several of their goals, including:
- FACEIT and ESEA have partnered to combat cheating by sharing technology, infrastructure, and data capabilities and to offer better solutions for other tournament organizers
- Increase stability in the NA scene by offering more incentives to professional teams, better communication and operational capabilities, and a richer schedule for competitions
- By funding local organizers from third parties and expanding our program calendar, you can support the development of local scenes.
- Continue to invest in “path to professional” to provide the best players with opportunities to develop and the chance to shine at professional events.
- Fans who watch all of our CS: GO content via FACEIT points drops on our channels, and our official co-streamer’s channels will receive rewards
We will provide more information on the ESL FACEIT merger when they are available.
