Financial terms of the partnership were not disclosed.
In a release, TGS said that the goal of this partnership is to work together to amplify “the strengths of their respective businesses and expanding the companies’ combined capabilities.” This initiative is being led by TGS CEO Spiro Khouri, Rumble CEO Adam Ivers, and each company’s respective management teams. Both companies “expect to start collaborating to service their clients, stakeholders and the gaming and media industries immediately,” according to a release.
TGS also announced that it has terminated a previous non-binding term sheet (announced on Jan. 26) to acquire Midnight Gaming Corporation. In a release the company said that the “board and management of TGS determined that it was not in the best interest of the Company to continue pursuing the Transaction.”