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Toronto-based esports and gaming platform Tiidal Gaming has acquired Los Angeles-based tournament organizer Space Esports.
Tiidal Gaming is an umbrella company that own and operates numerous businesses across the competitive gaming landscape. Tiidal is the owner of esports team and talent management firm Lazarus Esports. Lazarus recently had considerable success at the Fortnite World Cup in July, scoring a second-place finish in the duos tournament and fourth in the solos. Lazarus’ six competing players brought home a combined total of $3.5 million USD in prize money.
Space Esports specializes in creating and organizing asymmetrical multiplayer tournaments. The company works with titles of all levels of popularity, including juggernauts like Overwatch and Call of Duty, but is particularly well known for its smaller weekly Dead By Daylight competitions. Space boasts that “99% of game publishers and boutique studios” use its services.
Tiidal CEO Charlie Watson said of the acquisition in a statement:
This acquisition underpins Tiidal’s view to build a diversified esports and gaming platform company with events being a core focus of that strategy. Being located at the center of the esports and gaming world in Los Angeles, California, Space Esports is a dynamic addition to Tiidal’s growing slate of offerings that expand our ability to be the bridge for brands and sponsors to our millennial and Gen Z audiences. Additionally, we now have material reach into the U.S. market as a North America-wide company.
Space Esports CEO Michael Calderone added:
This opportunity to join Tiidal is incredibly positive in a rapidly growing and competitive industry landscape. Joining Tiidal Gaming will provide us with the necessary support, expertise, and resources to expand our business and grow under a unified platform approach while continuing to scale.
Financial details about the acquisition were not made public. Space Esports will continue to operate independently from its office in Los Angeles.
Canada increasing presence on international esports stage
The success of Team Lazarus at the Fortnite World Cup and Tiidal’s acquisition of the U.S.-based Space Esports are part of a surge in Canadian esports activity.
Earlier this month Enthusiast Gaming and its subsidiary Luminosity Gaming acquired a non-controlling stake in the Vancouver Titans. Since then, the Titans have progressed to the Overwatch League Grand Finals. Vancouver’s team will face the San Francisco Shock on September 29 in Philadelphia for a chance at a $1.1 million USD prize.
Note: Enthusiast Gaming is the parent of Gaming Street.
