Mike Stubbs . Business . Thursday 16th February 2017 . 12:00
Orbit Esport has announced that it will no longer function as an organisation, instead becoming an investment firm.
However it will still own teams, by holding a majority share of Red Reserve. Red Reserve will absorb all of Orbit’s current teams, including its highly successful Call of Duty team who will make their debut in the new colours at ESWC this weekend.
“I’m pleased to finally announce our official merger with Orbit eSports. Since our recent investment from investment group Orbit Esport AB in Sweden, we’ve been working closely with the group behind Orbit eSports as we plan our expansion into competitive gaming. Their wealth of knowledge and success in the eSports industry allowed for us to make the swift acquisition of our first ever competitive gaming roster in Call of Duty.” said Alex “Formula” Kushelevskiy, founder or Red Reserve. “When we started negotiations about merging our two organizations under Red Reserve it came apparent both companies complemented each other really well, from the Staff behind Orbit down to the Players, and we are both looking to make a lasting impression within the gaming scene. This merger brings us one step closer towards our goal of building a world-leading international gaming club that our fans would be proud to support. I’d like to thank you all for riding with us through our ups and downs along the way. Your continued support means the absolute world to us all, and there’s no way we would’ve gotten this far without it.”
“Today marks one of the biggest steps I have ever made in my career, leaving something that I have built from scratch over four years to lead another has been hard for me to do. But after having the opportunity to work with the guys behind Red Reserve, Red Reserve is truly something special. They have the passionate fans, hard-working staff, professional creators and most of all a base for growth to really excel.” said Patrik Andersson, CEO of Orbit Esports. “Alongside myself, my team behind Orbit Esports will be joining forces with the guys behind Red Reserve as we work collectively towards building Red into what it has to the potential to be: a juggernaut in competitive gaming & entertainment. Finally, I would like to thank all of Orbit Esports’ fans and supporters for their continued support over the last 4 years. We hope by joining forces with Red Reserve we’ll be in the best position possible to create a brand you’ll be proud to stand behind.”