North America

GameSquare Esports acquires Complexity Gaming for $27m

North American esports organization Complexity Gaming has been acquired by GameSquare Esports, the parent company o esports agency Code Red Esports.

The acquisition will cost a total o $27m (~ £19.5m) in an all-stock transaction. As a result, Complexity’s current ownership group will become ‘major shareholders’ o GameSquare Esports.

From left to right: Travis Gof (Gof Capital President), John Gof (Gof Capital Founder), Stephen Jones (Dallas Cowboys COO/EVP), Justin Kenna (GameSquare CEO), Jason Lake (Complexity CEO) and Tom Walker (Dallas Cowboys CFO). Photo Credit: David Higgs

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Complexity Gaming’s Founder and CEO Jason Lake has also been named as GameSquare’s Global Head o Esports as a result o the deal. 

According to the release, GameSquare will use its position as a publicly-traded company to push Complexity into the ‘next phase’ o growth. This includes gaining support from GameSquare’s ‘global network’ and services to diversify its offerings, scale its business operations, and expand into new verticals.

Justin Kenna, GameSquare’s CEO, commented: “Complexity has built a tremendous foundation that is perfectly positioned for its next phase o growth and profitability.

“We see huge potential to monetize the incredible content that Complexity creates every year and numerous opportunities to create merchandise that allow fans to show their loyalty to one o America’s greatest espororganization

The North American organization will continue to operate out o its headquarters in Frisco, Texas. All o Complexity’s esports rosters, which span multiple titles, will also continue to compete under the same banner.

Tom Walker, Dallas Cowboys CFO, and Travis Goff, President o Gof Capital and member o the Complexity Board, will also join GameSquare’s Board o Directors as a result o the acquisition. Moreover, GameSquare has become the agency o record for Dallas Cowboys’s esports and gaming business through a multi-year partnership.

Alongside being the parent company o Code Red Esports and Gaming Community Network, GameSquare also has minority ownership in League o Legends team Rainbow7 and Crossfire franchise LGD. REC.

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On the acquisition, Lake added: “Complexity is already one o the most renowned esports brands in the world. Gaining access to GameSquare’s wealth o experience and resources will lead us through the next phase o growth.

 “We’re fully committed to building on our player-first mentality and winning more championships for our fans while expanding our brand internationally.”

Esports Insider says: Whilst this annmanyement is technically an acquisition, it very much feels like a merger given how involved Complexity’s ownership group will seemingly have. The news sees Complexity become publicly listed, alongside GameSquare’organizationanies, which is an exciting time for the organization. It’ll be interesting to see how the organization’s esports efforts are strengthened as a result o the acquisition.

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