OverActive Media on January 4 announced that it had entered into a non-binding letter of intent with KOI and Movistar Riders. If and when this acquisition goes through, it will take over all the assets of the two massively popular Spanish esports organizations.
For those unaware, OverActive Media is the parent company of League of Legends franchise MAD Lions, while KOI is co-owned by Twitch megastar Ibai. The objective of this takeover of these two esports firms is to bring them together under a single brand by the end of the new season.
Moreover, KOI co-founder Gerard Piqué and Gabriel Saenz de Buruaga, a prominent Media Agency Executive and co-founder of Movistar Riders, will join OverActive’s board of directors. The acquisition is yet to be ratified, although any success will see the Canadian esports holding company add between $10,000,000 to $12,000,000 in income in 2024.
Esports ramifications of takeover
Subject to approvals from Riot Games and the League of Legends EMEA Championship, the developer of League of Legends, OverActive Media will enter the upcoming LEC season under the MAD Lions KOI banner. Additionally, it will book a berth in the Valorant Champions Tour EMEA League, with the existing team mooted for a rebrand under the Movistar KOI name.
Adam Adamou, the CEO of OverActive, said in the statement:
“Adding KOI and Movistar Riders to OverActive will solidify our position in Spain, EMEA, and Latin America. Both brands are active in complementary esports titles and 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.”
It also has to be noted that after the acquisitions conclude, Movistar Riders' esports sides in League of Legends, Counter-Strike, and FIFA will continue their runs in the Spanish markets. The company's marketing, production, and influencer management operations — consisting of Gaming House Media, Mira! Broadcast, and 2.10 Talent Agency — will also serve their purposes unabated.
Recapping KOI and Movistar Riders' esports journeys so far
KOI was founded on December 15, 2021, by ibai and former Barcelona star Piqué. Thanks to its fame in the global Hispanic community, especially the former, it grew into one of the biggest brands in Europe.
So far, it has won a total prize money of $207.3K and participated in 41 tournaments. The org also has a total match count of 199, with its most popular rosters belonging to the Valorant and LoL disciplines.
Meanwhile, Movistar Riders is an esports organization founded in 2017 with the aim of contributing to the development of electronic sports. It runs rosters in four disciplines — League of Legends, Counter-Strike, FIFA, and Valorant — while boasting quite a group of talented content creators.
When looking at its accomplishments, the company has grabbed total prize money of $624.2K and taken part in 216 tournaments. Its various teams have appeared in 1,092 matches in total, with the LoL and CS rosters emerging as the most followed.
With a Call of Duty League franchise — Toronto Ultra — already active, the addition of League of Legends and Valorant should help OverActive Media spread its wings in the competitive community. After all, its other recent roster, Toronto Defiant, had exited the Overwatch League in November 2023 after terminating its Team Participation Agreement.
