In a significant recent development, FaZe Holdings Inc., the online video-game influencer firm, is being taken over by GameSquare Holdings Inc. With a staggering 512 million followers across various social media platforms, FaZe Holdings has been grappling with several challenges recently. This takeover essentially connotes a merger of sorts between the two entities reported Bloomberg Law.
For each share held, the investors of FaZe are said to receive approximately 0.14 shares in GameSquare, according to the shared agreement terms. This implies that the value of the acquisition deal could be around $17 million. Interestingly, the top investors of GameSquare, the family of Jerry Jones (he owns Dallas Cowboys) and Goff Capital, have agreed to inject an additional $10 million into this deal.
Besides the financial aspects of this acquisition, it’s noteworthy that GameSquare Holdings plans to elevate several of the original founders of FaZe back to key positions within the merged entity.
Speaking about the acquisition, Justin Kenna, the Chief Executive Officer of GameSquare, and a former FaZe executive, emphasized the natural synergies between the two companies. However, the finer aspects of these synergies have yet to be revealed.