Sources: Global Esports to be acquired by Revenant XSpark

The Indian esports scene continues to grow, and its most well-known organization in the West, thanks to VALORANT, Global Esports, is reportedly in the process of being acquired. According to sources close to Sheep Esports, the Indian organization competing in the VCT Pacific is expected to be acquired and merged with another local organization, Revenant XSpark. The full deal is said to be valued at more than 12 million dollars, and Riot Games was informed last weekend.

The deal is not yet finalized but is currently in its final stages of paperwork, sources told Sheep Esports, with completion expected between June and July. Despite the acquisition and upcoming merger, the Global Esports brand is not expected to disappear and should remain in place at least until the end of the 2026 season.

Sources also indicate that Revenant XSpark was not the only party interested in acquiring Global Esports, but it ultimately emerged as the winning bidder. With this merger, GE would come under the management of RNTX, although the operational structure and teams are expected to remain largely unchanged, according to an internal source. The investment is also expected to provide Global Esports with additional resources and capital to continue its development.

Founded in August 2017, Global Esports is one of India’s most recognized esports brands internationally. Since 2023, it has held a slot in the VALORANT Champions Tour, the competitive ecosystem of Riot Games’ tactical shooter. Active in VCT Pacific since the league’s creation, the organization has notably made its breakthrough in 2026, achieving strong results and securing its first international LAN qualification with a recent appearance at VALORANT Masters London 2026.

The brand is also well known domestically, particularly for its results in PUBG Mobile (including its Indian version, Battlegrounds Mobile India), where it has won multiple national titles. Having also competed in Counter-Strike, Overwatch, and Dota 2, the organization has been active exclusively in VALORANT since last November after shutting down its Battlegrounds Mobile India roster. BGMI serves as the Indian version of PUBG Mobile, which was banned in India due to concerns surrounding its Chinese publisher, Tencent.

A strong presence in VALORANT suggests that the primary value of this acquisition lies in the VCT slot and Global Esports’ direct relationship with Riot Games, which has attracted interest not only from Revenant but also from other major Asian organizations outside the VCT Pacific ecosystem. It is important to note that Global Esports does not directly own its VCT slot. Instead, the organization holds a partnership agreement with Riot Games and was selected by the North American publisher through its application process.

It should also be noted that the Indian organization is not guaranteed a partnership spot beyond 2027, as Riot Games announced a restructuring of the official ecosystem last August, including a reduction in partnered teams to allow for a more open circuit format. While a new wave of partnerships is expected, the exact number of slots for all four VCT regions has been reduced from 40 to 32 teams, with only 8 partners for Pacific, instead of 10.

Behind this acquisition is Rohit Jagasia, who founded Revenant Esports in 2021. The organization has operated across multiple titles, with a strong focus, like many teams in the region, on mobile esports, including active rosters in BGMI, Mobile Legends: Bang Bang, Honor of Kings, and Brawl Stars.

Coming from a business and marketing background, Jagasia originally worked outside esports, holding roles such as Brand Strategist, Creative Partner, and Business Development Manager in various companies across India.

Under his leadership, Revenant has gradually expanded across multiple competitive scenes, particularly mobile and VALORANT, adopting a model based on participation in national and international circuits as well as commercial partnerships. According to its trajectory, the organization has grown into a structured and expanding project, although Sheep Esports has not had access to its financial results.

In 2021, Sajan Raj Kurup announced an investment of around 7.4 crore INR, or approximately 1 million dollars, for an estimated 40 percent stake. Over time, Revenant has also attracted investors from the entertainment industry, including Indian actor Tiger Shroff, who reportedly holds a stake in the organization. At the time of his involvement, he stated: “I am confident that Rohit’s and my passion, knowledge, and vision will help us achieve remarkable success and experience.”

After that, JetSynthesys and its CEO, Rajan Navani, invested an undisclosed amount in the multi-million-dollar range, acquiring a majority stake in the company. JetSynthesys is a a group that “build and scale IP-driven content & creator businesses led by video gaming, esports and entertainment, rooted in the digital culture,” according to their website. The group is also behind Skyesports, one of the biggest tournament organizers in India.

Already underway before, but strengthened by this investment, Revenant diversified further in esports by adding several content creators to its board and brand strategy. Jagasia also led a consolidation strategy, notably through a 2024 merger with Team XSpark, resulting in the creation of Revenant XSpark, the unified brand now representing the full project. The reported financial terms of the deal were not disclosed.

In addition to this merger, Tanmay “ScoutOP" Singh, one of the most followed personalities in Indian esports on BGMI, with over five million YouTube subscribers and 4.4 million Instagram followers. He joined the project as an ambassador and co-owner with the merger between RNT and Xspark. He is also believed to have received equity in the organization, according to information gathered by our journalists.