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OverActive Media aims acquisition of Spanish Esports Organizations KOI, Movistar Riders

Posted : 05 January 2024

Canadian esports holding company OverActive Media has expressed its intention to acquire Spanish esports organizations KOI and Movistar Riders through a non-binding letter of intent. OverActive Media, parent company of League of Legends franchise MAD Lions, plans to unify the acquired organizations under a single brand by the end of 2024.

 

Pending approval from Riot Games, the acquisition would see OverActive Media participating in the LEC 2024 season as MAD Lions KOI and secure a slot in the VALORANT Champions Tour EMEA League with a rebranded team named Movistar KOI.

 

In addition to operational changes in the EMEA region, Movistar Riders' Founder, Fernando Piquer, will assume the role of Chief Strategy Officer, and CEO Carlos Garcia-Acevedo will become the Chief Commercial Officer for the EMEA region at OverActive Media.

 

Service agreements will be established with KOI co-founders Ibai Llanos and entrepreneur Gerard Piqué. The acquisitions are subject to various conditions, including negotiations for a definitive purchase agreement, completion of purchases, and necessary approvals.

 

Upon the completion of the acquisition, Movistar Riders co-founder Gabriel Saenz de Buruaga and Gerard Piqué will join the board of directors at OverActive Media. The acquisitions are expected to contribute CAD$10 million to CAD$12 million in revenues in 2024, expanding OverActive Media's reach to over 100 million across its portfolio.

 

OverActive Media operates franchises in League of Legends, VALORANT, and the Toronto Ultra Call of Duty League, while its Toronto Defiant Overwatch League franchise exited the league in November 2023. Adam Adamou, CEO of OverActive Media, expressed confidence in the acquisitions, emphasizing their impact on Spain, EMEA, and Latin America.

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