Shareholders of GameSquare Holdings, the parent company of Complexity Gaming, have officially approved the proposed merger with FaZe Clan.<\/p>\n
The merger, valued at approximately US$17 million according to numerous sources, is expected to close shortly pending standard closing conditions.<\/p>\n
Jason Lake, CEO of Complexity, acknowledged the potential conflict of interest between Complexity and FaZe in a statement.<\/p>\n
He assured that steps would be taken to ensure fair play despite any conflicts that may arise from the merger.<\/p>\n
The acquisition of FaZe Clan by GameSquare was announced late last year, following financial struggles faced by FaZe Clan after a challenging public listing.<\/p>\n
The deal was initially expected to close in the fourth quarter of 2023 but experienced delays.<\/p>\n
Both GameSquare and FaZe Clan have expressed confidence that the merger will be finalized soon.<\/p>\n
Prior to the shareholder vote, GameSquare’s Board of Directors unanimously recommended approval of the acquisition.<\/p>\n
FaZe Clan shareholders had already voted in favour of the merger in a meeting held on February 16, with 91% approval.<\/p>\n
The merger between GameSquare and FaZe Clan marks a significant development in the esports industry, as consolidation becomes increasingly common to manage costs and navigate market changes.<\/p>\n
However, concerns about conflicts of interest have been raised, particularly regarding the competitive integrity of Counter-Strike<\/a> tournaments where both Complexity and FaZe Clan participate, such as the BLAST Premier Series<\/a> and ESL Pro League<\/a>.<\/p>\n Jason Lake had previously expressed interest in reacquiring Complexity from GameSquare, potentially offering a solution to mitigate conflicts of interest.<\/p>\n Meanwhile, tournament organizers like ESL<\/a> and BLAST are closely monitoring the implications of the merger on competitive integrity within the esports scene.<\/p>\n
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