GameSquare Esports Inc. (CSE: GSQ; FRA: 29Q1), an international gaming and esports company, has announced that it has acquired Cut+Sew and Zoned a privately held marketing agency operating in the sports and esports industries for a total consideration of up to $7.85 million paid in cash and shares.
This acquisition will bring additional marketing capabilities to GameSquare and will help to increase the brand's capabilities in numerous sectors including traditional sports, gaming, emerging technology, new media, music and fashion. The co-founders and management of Swingman (Cut+Sew/Zoned), including Matt Hilman , Devon Woodruff , and Sean Maher , will continue to operate Cut+Sew/Zoned, whose gaming clients include Amazon's Crown Channel, Tiv, Mavix Chairs, HyperX, and Play One Up.
"Cut+Sew/Zoned operates at the intersection of gaming, sports, new media, and understands how to bring the cool factor to brands and client engagements," said Justin Kenna , CEO of GameSquare. "Having worked with Cut+Sew/Zoned in the past, I know the high quality of their work and also management's ability to profitably grow their business. Under GameSquare, I see tremendous potential for Cut+Sew/Zoned to accelerate their top line growth while generating healthy EBITDA margins of roughly 40%, based on past performance, adding to our portfolio of profitable companies. I expect that Cut+Sew/Zoned will be instrumental in helping to monetize Complexity Gaming's incredible media assets, and their work in sports will be an incredible addition to the agency of record agreement that was recently signed with the Dallas Cowboys."
"Having worked with Justin during his time at FaZe Clan and having watched the progress that GameSquare has made in a short time, joining the GameSquare team makes strategic sense to continue scaling Cut+Sew/Zoned's business," added Matt Hilman , co-founder of Cut+Sew/Zoned. "We have seen amazing growth in gaming + esports and the convergence that is taking place with traditional sports, and we think the opportunities that GameSquare is creating puts us in the right place at the right time to bring our work ethic and creativity to projects with global brands, including Complexity Gaming and the Dallas Cowboys."
View original content to download multimedia: https://www.prnewswire.com/news-releases/gamesquare-esports-acquires-cutsew--zoned-a-gaming-and-lifestyle-marketing-agency-to-its-portfolio-of-profitable-companies-301334437.html
SOURCE GameSquare Esports Inc.