OverActive Media, owner of MAD Lions and the Toronto Ultra Call of Duty team, has revealed plans to buy the esports organizations KOI Esports and Movistar Riders, aiming to “establish a worldwide esports titan”
The deal is planned to merge the talent and influencer resources of KOI with the key management and business strategy of Movistar, and also include the additional assets owned by each team under the OverActive brand. This includes KOI’s Valorant Champions Tour slot.
Pending approval from the OverActive board, the acquisition will mostly be completed through shares. However, each purchase is also estimated to be worth approximately $5.7 million. If the deal is accepted, KOI and Movistar executives, including ex-professional footballer Gerard Pique, will be included in OverActive’s board of directors.
Once the deal is final, OverActive plans to consolidate and rename several of its teams to signify the merged esports organizations it owns. With the exception of its Call of Duty and Overwatch teams which will stay as the Toronto Ultra and Toronto Defiant, the other teams will be renamed as either MAD Lions KOI or Movistar KOI – except for the EA Sports FC team, which will assume the identity of Atletico de Madrid.