Publicly traded North American esports and gaming company OverActive Media (TSXV: OAM) announced Tuesday that Riot Games has officially approved the transfer of a Valorant Champions Tour EMEA team participation agreement previously held by KOI (Goatch Global, S.L.) to a subsidiary of the company. The transfer of the agreement is part of the company’s previously announced acquisition of some of the esports assets from KOI and Moviestar Riders. The agreement will allow OverActive Media to operate a team within the VCT EMEA ecosystem in 2024.
Financial terms and conditions of the transfer and its transaction with KOI and Moviestar Rider have not been publicly disclosed.
OverActive also recently announced that it will continue to participate in Activision Blizzard’s esports ecosystem for Overwatch 2 (formerly, Overwatch League, now being operated as Overwatch Champions Series under the auspices of Saudi government-owned esports tournament organizer ESL FACEIT Group).
OverActive said in a release that it will join VCT EMEA as a long-term partner and operate the team as Movistar KOI for the 2024 VCT season. OverActive also owns and operates MAD Lions KOI, one of the ten teams in the League of Legends EMEA Championship (LEC). OverActive also announced that this finalization of securing the agreement has allowed it to complete the “execution of VCT player contracts.”
The acquisition of Team Randomk Esports S.L. still remains “subject to several conditions, including the receipt of all necessary TSXV approvals.”