The Esports Advocate has learned that Berlin-based esports organization G2 Esports is in the final stages of acquiring Minnesota-based esports organization Version1 and its Call of Duty League franchise, Minnesota RØKKR. Sources tell us that G2 and V1 management are finalizing paperwork and completing other important steps to take over the company.
TEA first reported on Version1’s plans to merge with/be acquired by another esports organization on April 13, but on Oct. 9, we published an in-depth look into just how advanced talks had become between the company and G2. At the time, multiple sources confirmed that G2 Esports and Version1 had been in extended talks to merge for several months, and that those conversations were still ongoing. In fact, the company informed staff at the time that as a preparation for G2 taking over, there would be a series of layoffs.
Sources also tell TEA that Version1 management recently informed the last remaining employees (we estimate its current headcount is around four – five employees—not including Minnesota RØKKR players) that they could be impacted by layoffs as soon as Dec. 2, though no specific timeframe for the deal to be completed has been put forward.
While we assume that G2, Version1’s management group, and Activision Blizzard’s Call of Duty League are working on terms to approve and finalize the transfer of CDL team Minnesota RØKKR to G2 ownership, TEA can not independently verify if those conversations have or haven’t taken place, as of this writing.
TEA reached out to Version1, G2 Esports, and Activision Blizzard for comment prior to the publication of this story and will provide an update should additional information become available.
On Nov. 15, Version1 announced that it had released its Valorant Game Changers roster and that Shopify Rebellion had acquired the team ahead of the VCT: Game Changers Championship in Brazil later this month. The team was likely sold to Shopify Rebellion because G2 already has a GC team—G2 Gozens. The new Shopify Rebellion GC team is set to compete in the Valorant Champions Tour: Game Changers Championship starting on Nov. 28, against such teams as Evil Geniuses, BBL Queens, G2 Gozens, Team Liquid Brazil, KRÜ Blaze, Team SMG, and Chao Hui EDG.