The eSports industry is rapidly gaining traction toward more significant developments. Everything appears to be in constant flux in the modern gaming industry. As competitive gaming evolves, new games, technologies, and business models emerge on a regular basis.
However, the most recent development has proven to be worthy of its attention from media outlets, sports websites, and other sports fanatics. The upcoming merger of ESL Gaming and FACEIT will undoubtedly be the most significant game-changer in the eSports arena. For years, the two companies have been working independently and winning their respective fields of expertise. Their merger is likely to reinvent the industry like never before.
Events Resulting in the Merger
The impending merger is the result of meticulously calculated plans. Contrary to popular belief, it dates back to the formation of the individual firms.
ESL Gaming was founded in 2000 and has been striving to achieve the highest operational standards possible. The German eSports organizer and producer has defied all odds to thrive in the rapidly changing eSports landscape. Competitive gaming is credited with ESL Gaming’s success. One of the reasons the company decided to merge with FACEIT was the desire to be a champion worth mentioning in the dynamic global gaming market.
FACEIT, on the other hand, has been striving for better performance by constantly challenging itself. The eSports platform is well-known for managing leagues for a variety of games. Since its inception in 2011, it has continually improved itself and its products. One of the primary reasons for seeking the benefits of having a partner company is the desire to grow exponentially and leave a mark in the eSports industry world wide.
Merger Specifications
ESL Gaming and FACEIT announced their merger in the second quarter of 2022 in January 2022. The merger came after Savvy Gaming Group (SGG) paid $1.05 billion for ESL Gaming from a Swedish company called Modern Times Group.
The Public Investment Fund of Saudi Arabia owns the Savvy Gaming Group. It also acquired FACEIT due to its proven success as a multiplayer eSports platform.
The ESL FACEIT Group will be formed as a result of the merger of FACEIT and ESL. By retaining the original leadership, the new organization will strive for teamwork. Craig Levine and Niccolo Maisto, both CEOs, will remain in their positions, while Ralf Reichert, co-founder of ESL, will become executive chairman.
The Advantages of Merging ESL Gaming and FACEIT
The newly formed platform will strive to be competitive in providing eSports services. It will specifically develop an end-to-end solution for creating gaming communities for augmented experiences.
The ESL FACEIT Group is expected to change the industry by providing a superior digital platform for players and fans to play and interact. It will take advantage of the benefits of collaboration to create an integrated and accessible ecosystem for players, fans, and teams of the various available games.
The merger has the advantage of combining two exceptional companies. ESL Gaming is a global leader in eSports organizations. The company is a pioneer in the industry because it was one of the first of its kind. While most others failed, the company overcame all obstacles and thrived despite the setbacks. For example, in 2017 the company encountered numerous difficulties while attempting to restructure. However, the company sought an excellent partnership with Intel in order to create major eSports tournaments.
FACEIT has also proven to be a winner in the eSports gaming industry. The company takes pride in having made a significant impact in the eSports industry. It has previously advanced numerous ideas for meeting the needs of teams, players, and fans. Its proven track record in eSports makes it one of the scene’s most respected and credible platforms.
Merging with an excellent counterpart will aid in developing a robust platform that will ensure the well-being of the gaming ecosystem. It will also contribute to long-term value creation for all stakeholders. The merged companies will most likely aid the eSports industry in developing far-reaching changes that will spark further developments in the near future.
The ESL FACEIT Group has an advantage in that it has capable investors and a team of experts eager to expand the organization’s activities. If used wisely, the financial assistance can steer the new company toward developing game-changing products that will further improve the eSports industry.
Conclusion
Most other recent developments in the eSports industry pale compared to the merger of ESL and FACEIT. Based on the precedent, the merger is likely to benefit both companies as well as the entire eSports industry. For better performance analysis, it is critical to stay up to date and focus on evidence of performance after its inception.