GameSquare completes FaZe acquisition

The deal has finally been completed, almost five months after the two companies reached an agreement.

GameSquare has announced that it has completed the merger with FaZe Clan. The deal, valued at approximately $17 million, according to Bloomberg, positions GameSquare as “one of the largest gaming and esports organizations” in the world, based on the "company’s audience reach of one billion."

As announced in October 2023, when an agreement was reached, FaZe founders Richard "Banks" Bengtson, Thomas "Temperrr" Oliveira, and Yousef "Apex" Abdelfattah are returning to the company, which will operate as an independent division of GameSquare, to “lead the brand and reestablish authenticity.”

"On behalf of everyone at GameSquare and FaZe, we are thrilled to announce the successful culmination of our merger, marking a significant milestone in our journey to revolutionize the gaming and media landscape,” GameSquare CEO Justin Kenna said.

“This strategic alliance strengthens our position across global industries, amplifies our ability to connect brands with elusive and influential youth audiences, and unlocks even more opportunities to support our partners with cutting-edge technology.

“Together, we will seek to redefine the future of esports and gaming by leveraging our combined expertise to pursue opportunities for growth and innovation. Our commitment remains unwavering as we aim to lead the way in shaping the ever-evolving intersection of gaming, media, and brand engagement."

The announcement ends months of speculation about FaZe’s future after its disastrous public listing. The company went public on the Nasdaq exchange in July 2022 via a special purpose acquisition company (SPAC) merger at a valuation of $725 million, but its stock price quickly nosedived. By March 2023, FaZe was trading at less than $0.50 a share, and reports began to trickle in that the company was considering the option of going private again.

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