GameSquare Announces Sale of Complexity Gaming Sale follows a 175+% increase in Complexity's sales from 2021 - 2022 under GameSquare's ownership
Transaction is part of GameSquare's asset optimization strategy that is associated with its pending acquisition of FaZe Holdings
FRISCO, TX / ACCESSWIRE / March 1, 2024 / GameSquare Holdings, Inc. (NASDAQ:GAME)(TSX.V:GAME), ("GameSquare", or the "Company"), today announced that it has sold its esports team NextGen Tech, LLC d/b/a Complexity Gaming ("Complexity") to Global Esports Properties, LLC ("Global Esports"), an investor group led by Complexity's founder and CEO Jason Lake for total consideration of US$10.36 million. GameSquare and Complexity signed a Membership Interest Purchase Agreement dated as of March 1, 2024, and the transaction is anticipated to close shortly upon the satisfaction of a closing condition to receive TSXV approval for the transaction.
GameSquare Announces Sale of Complexity Gaming to Jason Lake and Global Esports Properties for US$10.36 Million (accesswire.com)