OverActive Media Group Inc. have announced that they have entered into an Agreement in Principle to acquire esports organisation of Splyce, which has seven teams under its umbrella.
This deal will eventually merge the shareholder base under OverActive Media, and Splyce joins the likes of Toronto Defiant under OAM ownership.
"Today is a game-changer for our two organizations, as together, we grow into one of the most dynamic and influential esports organizations in the world," said Chris Overholt, President and CEO of OverActive Media. "We believe that this step gives our business scope and scale that allows us to grow our enterprise on a global level."
"Esports is growing to the next level of a global sustainable digital sports business and it will require expertise from a diverse background of entertainment professionals," added Marty Strenczewilk, CEO of Splyce. "Overactive is building a world-class organization with staff from the traditional sports world that will supplement Splyce perfectly. We are thrilled to mix our strengths into one unified leading esports organization."
Is this a good deal for both?