GameSquare Holdings and FaZe Clan announce that the two companies have entered into a definitive agreement under which GameSquare will acquire FaZe Clan in an all-stock, all-cash transaction.

The deal is expected to close by the end of this year. The amount of the agreement remains confidential, but the network is circulating figures from 16 to 18 million dollars.

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The GameSquare acquisition will return FaZe's founding members to leadership positions, including: Richard Bengston: Richard "FaZe" Bengson:

• Richard "FaZe Banks" Bengtson will become the CEO of FaZe Clan, which will operate as a wholly owned subsidiary of GameSquare and is an independent division of GameSquare
• Thomas "FaZe Temperrr" Oliveira will become the President of FaZe Clan
• Yousef "FaZe Apex" Abdelfattah will become the Director of Operations of FaZe Clan

It is important to note that GameSquare Holdings also owns the esports organization Complexity, which may cause a conflict of interest between FaZe and Complexity during their joint participation in tournaments.