GameSquare Holdings has announced the sale of Complexity Gaming, the storied esports organization, to Jason Lake and Global Esports Properties, for $10.36 million. The deal is set to close upon approval from the TSX Venture Exchange.
In a press release, GameSquare says thatComplexity Gamingexperienced significant growth under their ownership, with sales soaring by over 175%. The org also brought on big-name streamers like Ninja and TimTheTatman as investors.
GameSquare CEO Justin Kenna expressed mixed feelings about parting ways with Complexity, but said it was a strategic move in preparation forGameSquare’s acquisition of FaZe.
Jason Lake, founder and CEO of Complexity, expressed gratitude for the successful collaboration with GameSquare and excitement for the future.
“It’s now time to write the next chapter in our legendary story and I’m confident our loyal fans will greatly enjoy the years ahead,” Lake said.
As part of the agreement, GameSquare will receive an initial payment of $0.75 million, with the remainder to be paid over three years. Additionally, GameSquare will receive a share of any additional funds raised by Global Esports.
With this transaction, Complexity enters a new chapter under Global Esports’ ownership, while GameSquare looks to replicate the success with FaZe,an org that has suffered numerous setback financially since going public.
After being made CEO,FaZe Banks posted on X/Twitter that all FaZe staff were being fired.
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Calum Patterson is Dexerto’s Managing Editor and leads the editorial team globally. He is an expert in Gaming and Esports, most notably Apex Legends, Call of Duty, and Counter-Strike. You can contact him at: calum.patterson@dexerto.com
