Canadian esports infrastructure company, TGS Esports (TGS), has announced its asset purchase agreement with Lazarus Esports, another Canadian esports organization. Under this agreement, TGS will acquire all of Lazarus' intellectual property and assets and retain some of the organization's staff including Charlie Watson (CEO), Nick Rhoades (director of talent), and Tyler Johnston (marketing manager). The financial details of the purchase were not revealed.

Lazarus is an esports organization that was established in 2010 and has competitive teams in various games such as Crossfire, NHL 23, and Gran Turismo. Aside from esports, it is currently the highest-earning esports team in Canada and among the top 25 highest-earning teams in the US, with more than USD 5.3 million in winnings. 

The news follows gaming and entertainment firm Midnight Gaming’s announcement to purchase TGS in January . The agreement involved Midnight buying all of TGS's outstanding shares and the estimated value of TGS's total assets was around USD 13.9 million. 

Analyst QuickTake: The company has grown inorganically over the past few years with the acquisitions of fighting tournament organizer, Even Matchup Gaming ( April 2021 ), for CAD 1.1 million (~USD 0.9 million), Canadian grassroots esports startup, Volcanic Media (December 2020), and esports tournament platform, Pepper Esports ( November 2020 ), for approximately USD 6 million.