on GameSquare Holdings, Inc. (NASDAQ:GAME)
GameSquare Completes Sale of Complexity Gaming to Global Esports
GameSquare Holdings, Inc., a leading name in the digital media, entertainment, and technology sector, announced the conclusion of the sale of Complexity Gaming to Global Esports Properties, LLC. The transaction, valued at US$10.36 million, received approval from the TSX Venture Exchange. This strategic move is part of GameSquare's broader initiative to optimize its asset portfolio and enhance shareholder value.
Justin Kenna, CEO of GameSquare, highlighted the significance of this sale alongside the recent disposal of their Frankly radio business assets, which collectively generated US$13.76 million. These funds are earmarked for strategic reinvestment into the company, with a keen focus on supporting the acquisition of FaZe Holdings. Kenna stressed the importance of scale enhancement, capability augmentation, and asset optimization as core strategies for sustaining shareholder value.
The sale of Complexity Gaming to Global Esports marks a pivotal development in GameSquare's ongoing efforts to streamline its operations and bolster its competitive stance within the gaming and digital entertainment landscape.
R. P.
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