Financial terms of the merger were not disclosed (more intricate details about the deal can be found on Esports News UK, where we saw this story first), but the new company will retain its collective 60 or some employees located in London; Malaga, Spain; and those working at the berlin-based performance center, according to a release.
The new company will compete on the international stage in League of Legends EMEA Championship (LEC) and Valorant Champions Tour (VCT), and in Spain as part of the LVP and Valorant Game Changers. The new entity will also reportedly hold on to the partnerships and sponsorships both companies had prior to the merger. EXCEL CEO Tim Reichert and Giants CEO Jose Diaz will take the reins as co-CEOs of the new company.
JRJ Group and Toms Capital, who invested in EXCEL in 2018, will remain the largest shareholder.