As GameSquare prepares to add a prominent esports organization to its list of properties, it is selling off a different company in the same field. The Texas-based media company, which is backed by Dallas Cowboys owner Jerry Jones, has sold Complexity Gaming back to its original owners in a $10.4 million deal.
Complexity Founder and former CEO Jason Lake is acquiring the esports org’s parent company, NextGen Tech, through an investor group named Global Esports Properties. “While it is bittersweet to sell Complexity, there is no one better suited to take over than Jason and his team,” GameSquare CEO Justin Kenna said in a statement.
GameSquare announced the Complexity sale as it prepared to close a blockbuster merger with noted gaming and entertainment company FaZe Clan. That deal has been approved by GameSquare’s shareholders and will be “closing shortly,” according to a news update shared on the GameSquare website.
The similar timing of the two transactions is no coincidence. Axios
noted that esports restrictions prevent a single owner from running more than one team at the same time. Since FaZe possesses its own lineups in games like Call of Duty, Fortnite, and Rainbow Six Siege, selling off Complexity made the most sense for GameSquare.GameSquare acquired Complexity in 2021 and moved quickly to expand the brand’s profile on digital platforms. Creators like TimTheTatman helped Complexity build name recognition and expand the size of its audience. According to Kenna, Complexity’s aggregate social followers increased tenfold between 2021 and 2022.
Beyond its investments in esports teams, GameSquare has also launched initiatives across the gaming universe. It has gotten into business with top streamer Tyler “Ninja” Blevins through a product development venture called Ninja Labs. And at the start of 2024, GameSquare announced Moonlight Studios, a unit that will develop metaverse experiences in game worlds like Roblox, Minecraft, and Grand Theft Auto.
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