ESL and FACEIT Acquired by Savvy Gaming Group

Two major tournament organizers in CS:GO, ESL Gaming and FACEIT, have been sold to Savvy Gaming Group. The deal reportedly was worth a combined of $1.5B. The companies will retain their current leadership teams.

The two companies have been merged into ESL FACEIT Group. The deal covers such brands as FACEIT, DreamHack, ESL, ESEA and Badlion; they are expected to continue to operate as normal.

Savvy Gaming Group is a long-term investor backed by the Saudia Arabian government's Public Investment Fund. The company’s CEO is Brian Ward, who previously worked as a Senior VP in Activision Blizzard. The deal between SGG and ESL with FACEIT requires regulatory approval, which is expected to happen in this year’s second quarter.

Under the new ownership, ESL FACEIT Group plan to create “the world’s leading competitive gaming platform”. In CS:GO specifically, their initial plans include: creating a better solution for fighting cheating, developing the North American scene through a richer schedule of competitions, supporting other regions by funding local organizers, and more.

Earlier this month ESL extended the so called Louvre Agreement, the partnership deal between them and fourteen permanent members of ESL Pro League. The deal, which allows ESL and the team to jointly govern the league, will last until at least the end of 2025.