OverActive Media Corp. added an EMEA Valorant Champions Tour slot among a pair of acquisitions announced by the company on Thursday.
The Toronto-based company has entered into non-binding letters of intent to acquire both KOI and Movistar Riders. OverActive will acquire all of KOI’s esports assets and brands, including the company’s slot in the Valorant Champions Tour EMEA League.
The KOI acquisition also includes global influencer Ibai Llanos, who co-founded the company, as well as former professional footballer and entrepreneur Gerard Pique.
OverActive has also agreed to acquire all of the issued and outstanding shares of Movistar Riders in a move geared toward the EMEA region. Subject to the approval by Riot Games Inc. and the League of Legends EMEA Championship (“LEC”), MAD Lions will be rebranded to MAD Lions KOI for the 2024 season.
Also subject to approval by Riot, the VCT team will be rebranded to Movistar KOI.
The goal is to unite “unite all teams globally under a single brand by the end of the year,” OverActive said in a press release.
“Adding KOI and Movistar Riders to OverActive will solidify our position in Spain, EMEA and Latin America,” said OverActive CEO Adam Adamou said in a press release. “Both brands are active in complementary esports titles, have industry-leading talent and social influence, top-tier relationships, and related services that bring strong synergies across our combined portfolio of assets. We have spent much time with Ibai, Gerard, Fer, Carlos, Gabriel and their respective teams, and we are all aligned in wanting to make an immediate impact through this combination.”
After the acquisition is closed, Movistar Riders’ esports teams will continue to compete in Spanish markets in League of Legends, Counter-Strike and FIFA. The FIFA team will continue to operate under the Atletico de Madrid brand.
“The way to remain relevant in the esports sector is to maintain growth to accommodate the needs of our audience,” Movistar Riders CEO Fernando Piquer said. “We’ve been consistent in this area through creating new divisions within the company, and now, in joining with OverActive Media, we seek to continue reaching new goals and milestones in the industry.”
–Field Level Media
