Canadian esports and entertainment company X1 Esports has agreed to acquire influencer management company Tyrus Talent Services.
As a result, Tyrus Talent Services will be integrating into X1 Esports, enabling the company to work more with influencers and bring its offering closer to Gen Z audiences. The acquisition of Tyrus will cost X1 $350,000 (~£291,000) in cash and common shares.
X1 Esports is a relatively new name in the world of esports holding companies. The Canadian brand is the owner of UK-based esports organisation RixGG, which competes in VALORANT, Rocket League, Fortnite and League of Legends: Wild Rift.
The team saw success in Wild Rift in 2022, finishing second at the EMEA Championship 2022 Season 1. At this year’s Wild Rift Icons Global Championship, RixGG finished 17th.
Tyrus, on the other hand, is an experienced agency specialising in influencers, streamers and content creators. The company has more than 50 creators on its roster. Tyrus offers platform management, model management and social media management services, helping creators focus more on creating content.
Tyrus CEO Amanda Solomon highlighted that the plan for the company was always to disrupt the industry and create an inclusive and diverse roster of influencers, something she believes has already happened. Solomon added: “I am supremely confident that joining X1 Esports will take us to the next level and help us become an increasingly dominant player in this space.”
This is not the first time an esports company has acquired a talent management agency this year. In April of 2022, North American esports organisation XSET acquired Astoic Management, a known talent management agency from the USA.
In addition to the purchase price, a bonus payment of $100,000 (~£83,000) may be payable if Tyrus reaches $1.75m (~£1.45m) in its first full year of revenue.