Friday, May 23, 2025
THE ESPORTS ADVOCATE
No Result
View All Result
  • Money
  • People
  • Brands
  • Events & Tournaments
  • Entertainment
THE ESPORTS ADVOCATE

GameSquare and Engine Gaming Shareholders Approve Business Combination

Combined entity expects to hit profitability in 2023.

James FudgebyJames Fudge
March 10, 2023
in Money
Reading Time: 3 mins read
Engine Gaming and GameQuare Shareholders Approve Business Combination

Credit: GameSquare

Gaming and esports company GameSquare and data analytics and marketing company Engine Gaming and Media announced separately this week that shareholders of both companies have approved a “business combination” in an all-stock deal that was officially announced in December. The deal is expected to close—barring regulatory approvals—in the first quarter of this year.

Under the terms of this business combination, Engine has agreed to acquire all issued and outstanding common shares of GameSquare at an “exchange ratio of 0.08262 of an Engine common share for each GameSquare Share,” according to a release. When the dust settles, GameSquare shareholders will own approximately 60% of the new company, while Engine shareholders will own around 40% of the company.

“The post-merger company is expected to achieve profitability in 2023 due to effects of cost synergies, operating leverage, and outsized revenue growth,” according to reporting from business analyst Tobias Seck in December. Seck also notes in his reporting that Dallas Cowboys Owner Jerry Jones and Goff Capital Chairman and Founder John Goff will remain the “largest investors of the combined entity” with “representatives of the Jones Family and of Goff Capital” holding significant influence and voting power on the new entity’s board of directors.

GameSquare CEO Justin Kenna will continue to serve as the top executive, while current Engine Gaming CEO Lou Schwartz will be moved into the role of president. Engine Gaming CFO Mike Munoz, GameSquare CRO Sean Horvath, GameSquare CSO Paolo DiPasquale, Engine Gaming General Counsel John Wilk, and Engine Gaming CTO Matt Ehrens will remain in those roles under the new entity. Jill Peters, who currently serves GameSquare COO, will be moved to the role of chief media officer.

GameSquare and Engine will continue to use the Nasdaq and TSXV dual listing under the “GAME” ticker used by Engine Gaming and will operate under the GameSquare brand.

GameSquare owns esports organization Complexity Gaming, esports talent agency Code Red Esports Ltd., digital gaming and esports media company GCN, gaming and lifestyle marketing company ZONED, production studio Fourth Frame Studios, and merchandising and consumer products company Mission Supply. Engine owns streaming analytics company Stream Hatchet, social influencer analytics and marketing platform Sideqik, and digital publishing platform Frankly Media. 

Tags: Code Red EsportsComplexity GamingEngine GamingGameSquareGCNMission SupplyStream Hatchet
TweetShareShareShareShareShareSend
Previous Post

The Path: Rafi Huezo and the Origin of OMIT

Next Post

Jon Spector Announces Exit From Blizzard

James Fudge

James Fudge

With a career spanning over two decades in the esports and gaming journalism landscape, James Fudge stands as a seasoned veteran and a pivotal figure in the evolution of esports media. His journey began in 1997 at Game-Wire / Avault, where he curated gaming and community news, laying the groundwork for his expertise in the field. In his more recent roles, James cemented his status as an authority in the esports business sphere as Senior Editor Esports at Sports Business Journal and The Esports Observer between 2018 and 2021.

The Esports Advocate

The Esports Advocate, your premier destination for in-depth and authoritative coverage of the esports business and finance landscape created to empower esports stakeholders with the knowledge and information needed to do business in the world of esports successfully.

Follow Us

  • About TEA
  • Terms of Service
  • Privacy Statement
  • Subscribe to our Newsletter
  • Our Mission Statement
  • Contact Us

© 2023 - 2024 The Esports Advocate. All rights reserved.

No Result
View All Result
  • Home
  • Money
  • People
  • Brands
  • Entertainment
  • About TEA

© 2023 - 2024 The Esports Advocate. All rights reserved.