Published by
Inven Global
Inven Global
ESL Gaming, one of the largest esports tournament organizers in the world, has reportedly been sold for 1 billion dollars by Swedish-owned Modern Times Group to the Savvy Gaming Group, which is backed by the Saudi sovereign Public Investment Fund. Under the new deal, ESL will merge with FACEIT, who was reportedly purchased for 500 million, under the new name ESL FACEIT Group. According to the official announcement, the deal is expected to close in Q2 of this year. “The deal will combine ESL’s expertise in building, broadcasting, and commercializing premium esports ecosystems, including arena a…