Canadian multimedia and gaming company GameSquare announced Thursday the acquisition of esports organization Complexity Gaming. With the deal, GameSquare has purchased 100% of the issued shares of Complexity.

The functional running of Complexity will remain the same, with Jerry Jones, Goff Capital and Jason Lake staying in their leadership positions within the CoL group. The company also announced a plan to put 21.3 units up for sale at a price of $0.40, which they anticipate will raise something in the region of $8.5m. Additionally, Complexity’s ownership group will become GameSquare investors, taking hold of 47% ownership.

The deal essentially sees two smaller firms within the space teaming up to gain a larger influence, with Complexity valued at around $27M in the transaction and GameSquare currently owners of CodeRed Talent agency and LGD Gaming, among others. This is a far cry from the valuations Forbes has given to other NA orgs like Cloud9 or 100Thieves, and speaks to the limited value of legacy in esports compared to traditional sport.

Going forward, GameSquare will act as agency of record for the Dallas Cowboys gaming and esports arm. The Texan NFL side were recently named by Forbes as the most valuable sports team in the world, despite the controversies that have dogged the NFL of late, and the league seeing drops in their viewing figures in recent times.

GameSquare CEO Justin Kenna could not hide his excitement for the deal. “Complexity has built a tremendous foundation that is perfectly positioned for its next phase of growth and profitability. We see huge potential to monetize the incredible content that Complexity creates every year and numerous opportunities to create merchandise that allow fans to show their loyalty to one of America's greatest esports teams."

The key to realising the full value will be in mobilising the Cowboys fanbase, with the average NFL fan spending over $500 a year supporting their team, numbers esports orgs can only dream of. "The...agreement with the Dallas Cowboys is an incredible opportunity to connect esports fans with the most valuable sports franchise on the planet. I believe that connecting the Dallas Cowboys with global esports fans represents limitless possibilities to grow revenue and profitability.”