Complexity Gaming will join Code Red Esports and Gaming Community Network (GCN) in the GameSquare family. The ownership group will maintain an ownership stake in both coL and in GameSquare itself.
Complexity Gaming announced it was acquired by publicly traded esports company GameSquare Esports Inc for $27m.
GameSquare Inc acquire Complexity Gaming
In a move announced this morning, GameSquare has announced their acquisition of Complexity Gaming. The North American company is the parent organization of Code Red Esports and gaming Community Network and features minority stakes in a League of Legends team (Rainbow7) and Chinese Crossfire franchise LGD.REC.
GameSquare's purchase is an all-stock transaction making Complexity's ownership group 'major shareholders' of GameSquare. To highlight this, Complexity's CEO Jason Lake has been named GameSquare's Global Head of Esports and the Complexity Gaming board of directors have joined GameSquare's board of directors.
What this means for Complexity
This announcement comes on the heels of FC Schalke's LEC slot sale for $31.5m, but the two are completely different transactions. Complexity Gaming will be the same esports organization we all know and love, but will have more resources to work with.
Complexity will still feature teams in games such as CS:GO and Apex Legends, but it remains to be seen if GameSquare will expand or rebrand its other properties with Complexity branding. The press release suggests that both partners will work to, "court new, innovative partnership and sponsorship opportunities."
In addition to the stock transfer, GameSquare will become the "agency of record" for the Dallas Cowboys esports and gaming ventures. This exchange seems to give everyone something of value without shortchanging anyone. For GameSquare they add a blue chip organization to a great portfolio and a braintrust to move their operations into the forefront.
The Cowboys receive a talented agency in Code Red to manage their esports/gaming aspirations and some ROI for their Complexity investment. Complexity receives some more room to grow and resources to further improve their current brand strategy.