January 25, 2022
Latham & Watkins advised FACEIT, the
leading digital destination for competitive gamers, on its merger with ESL
Gaming, the world’s leading independent esports company. Under the name ESL
FACEIT Group, the new company will deliver an end-to-end solution that supports
game developers and publishers to build sustainable competitive gaming
communities and esports ecosystems, offering players and fans the leading
digital platform to play and connect.
The ESL FACEIT Group will come under the
new ownership of Savvy Gaming Group (SGG), taking over from previous owners
MTG. SGG is fully owned by PIF, Saudi Arabia’s sovereign wealth fund, and was
set up in 2021 to help drive the long-term growth and development of the global
gaming industry. The deal is subject to regulatory approval and is expected to
close in Q2 2022.
The Latham team was led by London corporate
partner Mike Turner, with associates Adam Czernikiewicz and Jacopo Eftekhar
Zonouzi. Advice on tax matters was provided by London partner Karl Mah with
associates Aoife McCabe and Abi Jacobs; on executive compensation, employment
& benefits matters by London partner Sarah Gadd and associate Olivia
Sadler; and on antitrust and competition matters by Brussels partner David
Little, Washington, D.C. partner Ian Conner and counsel Patrick English.