GameSquare Esports, the new parent company of North American organization Complexity Gaming, has acquired Cut+Sew and Zoned for $7.85m.
Just two weeks after purchasing Complexity for $27m, GameSquare Esports have bolstered their portfolio with the addition of both Cut+Sew and Zoned, co-founded by Matt Hilman, Devon Woodruff, and Sean Maher.
The companies operate in gaming and esports, serving as a marketing agency, talent management firm, and investment vehicle. They’ve invested in companies such as FaZe Clan and high school esports venture PlayVS.
The deal is valued at a total of $7.85m, with GameSquare paying in both cash and shares, and has been closed in an effort to better monetize Complexity.
See what we’ve done to achieve 📈 9.2x increase in valuation in less than 9 months. #esportsbusiness #financialnews #CSE pic.twitter.com/Qdtf4cmBeg
— GameSquare Holdings Inc. (@GSQHoldings) July 13, 2021
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The founders of Cut+Sew and Zoned are also partners in gaming chair brand Mavix Chairs and women-led gaming company Queens Gaming Collective.
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GameSquare also own esports organization Team Reciprocity and agency Code Red Esports, and count Tony Hawk and the Wolf of Wall Street, Jordan Belfort, as advisors.
“Cut+Sew/Zoned operates at the intersection of gaming, sports, new media, and understands how to bring the cool factor to brands and client engagements,” said Justin Kenna, CEO of GameSquare.
“I expect that Cut+Sew/Zoned will be instrumental in helping to monetize Complexity Gaming’s incredible media assets, and their work in sports will be an incredible addition to the agency of record agreement that was recently signed with the Dallas Cowboys.”
