OverActive Media Corporation will acquire Movistar Riders and KOI - the company already owns MAD Lions

The Canadian corporation OverActive Media has announced plans to acquire the esports clubs Movistar Riders and KOI Esports – the latter owned by former footballer Gerard Pique.

The parties have already signed a non-binding letter of intent (LOI). It's noteworthy that OverActive Media is the parent company of MAD Lions, for which Viktor "sdy" Orudjev has played, among others.

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In the near future, the Movistar Riders roster will now perform under the name Movistar KOI with an updated logo. As for the rosters in the Riot Games disciplines, they will be named MAD Lions KOI.

The complicated naming is only a temporary solution – the corporation's letter states that by the end of 2024, they will unite all teams under a single brand. Also, OAM expects that the completion of the deal will lead to an increase in revenue this year of $10-12 million.

Source: Dot Esports