Spain/esports: OverActive Media (MAD Lions) to acquire KOI & Movistar Riders for €7.8m

OverActive Media, the Canadian company that owns Spanish club MAD Lions, is to acquire two other Spanish esports organisations, announced the company on 04/01/2024: KOI, co-founded in 2021 by content creator Ibai Llanos and investment fund Kosmos (owned by Gerard Piqué), and Movistar Riders.

The value of each of these two acquisitions is C$5.7m (€3.9m), for a total of C$11.4m (€7.8m). "OverActive will also pay Mr Llanos and Mr Piqué a cash fee in exchange for their ongoing services under the services agreements," said the Toronto-based company.

The agreement allows OverActive Media to acquire "all KOI esports assets and brands, including social media and intellectual property." The acquisition will allow the Canadian company to benefit from KOI's slot in the Valorant Champions Tour EMEA League (VCT), subject to the approval of Riot Games, publisher and organiser of the Valorant esports circuit. "Upon approval, the VCT team will be rebranded to Movistar KOI," said OverActive Media. The four Movistar Riders teams that compete solely in the Spanish national championships will take the…