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Dallas Cowboys owner Jerry Jones is behind a gaming company that is going on an acquisition spree.
What’s happening:
- Dallas based gaming company GameSquare Holdings (NASDAQ: GAME) is set to acquire FaZe Holdings (NASDAQ: FAZE)
- FaZe Holdings previously went public in a SPAC deal that raised more than $60M in new capital
Why it matters:
- FaZe Holdings is widely considered one of the most prominent brands in esports and gaming despite struggling as a publicly traded company
- The new combined entity is expected to be a powerful force in the gaming space with major brand partnerships
By the numbers:
- FaZe Holdings went public at a valuation of $725M USD
- The acquisition by GameSquare Holdings will value FaZe Holdings at approximately $17M USD
Market reaction:
- Shares in GameSquare Holdings are up +27% since the announcement of the acquisition
