ESL Gaming and FACEIT are merging to form the ESL FACEIT Group, thanks to a $1.5 billion acquisition by Saudi Arabia-backed company Savvy Gaming Group (SGG).
In a press release this week announcing the merger and acquisition, it was shared that the deal is “subject to regulatory approval” and will close by the end of June this year. Both ESL and FACEIT will keep key executive leaders, but the companies will now be one with ESL’s Craig Levine and FACEIT’s Niccolo Maisto serving as co-CEOs.
