ESL and Dreamhack are now owned by Saudi Arabia

Pending regulatory approval, a holding firm owned by Saudi Arabia’s Public Funding Fund has bought esports occasion organizer ESL Gaming and match platform FACEIT. Based on Sports Business Journal, the value for each firms was $1.5 billion. As a part of the acquisition, the 2 firms will merge into the ESL FACEIT Group, and plan to mix their know-how and experience to “create the last word platform for aggressive gaming.”

ESL is headquartered in Cologne, Germany, and hosts main CS:GO, Dota 2, and different tournaments, in addition to the Dreamhack LAN occasions following a 2020 merger. FACEIT is a aggressive gaming platform that gives anti-cheat, matchmaking, and match organizing for gamers and sport publishers. Following the merger, ESL CEO Craig Levine and FACEIT CEO Niccolo Maisto will co-lead the brand new group.

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