FaZe Clan to Be Acquired by Jerry Jones-Backed GameSquare in All-Stock Deal; Richard Bengston Named CEO
variety.comJennifer Maas TV Business Writer Esports company GameSquare, backed by Dallas Cowboys owner Jerry Jones, is set to acquire struggling influencer andgamer brand FaZe Clan.
Per a statement issued by GameSquare and FaZe Clan Friday, “The combined company will be powered by a progressive end-to-end platform of leading media and agency organizations, gaming and esport teams, creative services, and technology capabilities.” As part of the deal, GameSquare is appointing FaZe Clan founders at the top of the brand, which will operate as an independent division of GameSquare, to “reestablish authority”: Richard “FaZe Banks” Bengtson as CEO, Thomas “FaZe Temperrr” Oliveira as president, and Yousef “FaZe Apex” Abdelfattah as COO.
Currently, Christoph Pachler is serving as interim CEO of FaZe Clan. The acquisition, which is an all-stock deal, is expected to close in the fourth quarter.
Upon completion of the deal, current GameSquare shareholders will own approximately 55% of merged company, while current FaZe Clan shareholders will own approximately 45%.
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