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EXCEL Esports, Giants Gaming Merge to Form GIANTX, Aiming for Greater Competitive Success

Posted : 08 June 2024

EXCEL Esports and Giants Gaming, both prominent names in the esports industry, sought greater competitive success despite their established reputations. EXCEL, under the leadership of Tim Reichert, struggled to secure consistent results in the League of Legends’ LEC.

 

Meanwhile, Giants Gaming, popular in Spain, aimed to strengthen its presence in the European esports scene and the VALORANT’s VCT. Their merger led to the creation of GIANTX, a new entity aiming to leverage the strengths of both organizations.

 

Jose Diaz and Tim Reichert, now co-CEOs of GIANTX, oversaw the merger, which was completed in late 2023. Initially, Giants sought investments to expand into the LEC, but a discussion between Diaz and Reichert led to the idea of merging.

 

The merger proceeded smoothly due to the complementary assets and mutual respect between the two companies. Reichert noted the organic nature of the merger, emphasizing the absence of external consulting and the natural fit of their combined assets.

 

Post-merger, GIANTX focuses on globalizing its brand and integrating its fanbases from Spain and the UK. The organization now operates from multiple locations, including offices in Malaga, London, and a Performance Center in Berlin.

 

GIANTX has inherited commercial partnerships, such as KitKat and Hot Wheels, and renewed others like HSBC UK. The company aims to move beyond region-specific partnerships to more scalable and sustainable global projects, addressing the challenges of visibility and budget scaling in the esports industry.

 

The merger occurred during a challenging period for the esports industry, marked by layoffs and organizational changes. GIANTX experienced some layoffs due to overlapping roles but maintained a stable workforce of around 55 employees. The CEOs highlighted the industry's growing pains and the need for patience and strategic partnerships.

 

Despite the slower-than-expected growth of esports, they remain optimistic about its future potential. GIANTX's primary goals for 2024 include consolidating operations, enhancing content and partnerships, and achieving competitive success in major tournaments like LEC and VCT.

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