ESL and FACEIT, which run multiple events in modern CS: GO, have been acquired by Savvy Gaming Group for a total of 1.5 billion.
SGG notes that the deal should not affect tournament schedules or how both companies' brands operate. In addition, no reshuffling of their management is also planned. Savvy Gaming Group is known to be supported by Saudi Arabia's Public Investment Fund, and its head Brian Ward previously held a senior position in Activision's management.
The website of the united organization, named ESL FACEIT Group, has already published information about its immediate plans. In particular, it is mentioned that one of its key goals will be to energize the North American cybersports scene. It also plans to allocate additional funds to develop even more robust anti-charter programs, as well as create more opportunities to support players starting their professional careers within the FACEIT Pro League structure.
ESL CEO Craig Levin notes that the merger of the two companies will help create a more favorable environment for all stakeholders: for cybersports players themselves, for those who watch the matches, and for event organizers and sponsors.