- TGS Esports (TGS) has signed an asset purchase agreement with Lazarus Esports
- TGS will acquire all of the IP and assets of Lazarus in return for the execution of existing Lazarus contracts and employing select Lazarus employees
- Lazarus is the highest-earning esports team in Canada, with more than US$5.3 million in winnings, and is in the top 25 highest-earning teams in North America
- TGS Esports Inc. (TGS) was unchanged, trading at C$0.055 per share as of 10:25 am ET
TGS Esports (TGS) has signed an asset purchase agreement with Lazarus Esports.
TGS will acquire all of the IP and assets of Lazarus in return for the execution of existing Lazarus contracts and employing select Lazarus employees. The deal unites TGS (proprietors of Canada’s first gaming stadium) with Lazarus, the first professional esports organization ever launched in Canada.
Lazarus is the highest-earning esports team in Canada, with more than US$5.3 million in winnings, and is in the top 25 highest-earning teams in North America.
TGS will also take over and execute any existing contracts currently signed with Lazarus, including the gaming industry’s first esports team-wide sponsorship with a hockey equipment manufacturer, Warrior Sports.
The company’s CEO, Spiro Khouri, said he’s ready to welcome Lazarus, a true esports pioneer both in Canada and globally, to the TGS team.
“With the wealth of experience, insight and talent that the Lazarus organization has assembled, we’re going to find new and exciting ways to connect, unite and engage the many communities of gaming fans around the world with content, events and programs tailored to the titles and genres we all cherish and love.”
TGS Esports Inc. (TGS) was unchanged, trading at C$0.055 per share as of 10:25 am ET.
