RIYADH: The Saudi-backed Savvy Gaming Group has acquired ESL Gaming Co. for $1.08 billion amid plans to merge it with the esports platform FACEIT. The deal is expected to close in the second quarter of 2022, Handelblatt reported, citing an announcement from ESL FACEIT Group. The group, backed by Saudi Arabia's Public Investment Fund, the acquired the esports platform FACEIT in
ESL Gaming, one of the biggest names in esports tournaments, has reportedly been sold for a massive $1 billion figure. (Update: FACEIT has also been sold to the same group.)