Steve Maida Re-Acquires Luminosity and May Launch a Smash Bros. Roster

Steve Maida, who founded Luminosity in 2015 and sold it in 2019, has re-acquired it after a not-so-good period under Vertiqal Studios. 

There was an announcement about the transaction made on X by the Luminosity X account. 

In addition to announcing the sale, Luminosity also mentioned that "All active Luminosity creators & players have been paid in full as a result of this acquisition, using cash proceeds from the sale."

🚨 We have officially acquired Luminosity from @VertiqalStudios!

All active Luminosity creators & players have been paid in full as a result of this acquisition, using cash proceeds from the sale.

As part of the deal we did not acquire or assume any of the historical debts,… https://t.co/i8gRokNC2H

— Luminosity Gaming (@Luminosity) January 16, 2026

Steve Maida Announces the Deal

Maida took to LinkedIn to announce the re-acquisition. 

"I'M BAAAAAACK! I've reacquired Luminosity Gaming!" he started. 

"WOW! Where to begin! What a full circle moment. When I started Luminosity in my dad's basement as a kid, I never ever could of imagined the scale it would get to, or that I would be selling it to the Vancouver Canucks ownership group. I was just an addicted gamer who wanted to create a cool clan/team, cool logo, and have a counter strike team to cheer for. It had been a dream of mine since I was 16 and used to attempt to compete at counter strike tournaments. I quit my comfortable corp job and took a chance. I was so passionate about it that the day I quit, I rushed home, got to work on the branding and logo and didn't sleep for almost three days. That ended in the ambulance and paramedics in my condo at 3am because I thought I was having a heart attack - note to self, don't forget to eat next time! I still remember in the first few months we were live, I was at the food court in my local mall and a young boy and his father walked past me - the kid had on the Luminosity blue zip hoodie. MY jaw dropped. That's when I knew I was onto something."

Under Maida, Luminosity made some big moves, such as in the Counter-Strike space with a Brazilian roster that became SK. The roster included Gabriel "FalleN" Toledo and Marcelo "coldzera" David, who went on to win the MLG Columbus Major in 2016. After being acquired by SK, that squad won ESL Cologne 2016, another Major. 

Vertiqual Studios Press Release

Vertiqual Studios announced the acquisition on their own X account and via a press release. 

The company writes that this move "reflects Vertiqal's strategic focus on ensuring the long-term strength and sustainability of the brand. Vertiqal believes that Luminosity is best positioned to rebuild and thrive under dedicated ownership that can focus exclusively on its creators, vision, and community.

It was also revealed that the price paid for Luminosity was C$300,000 plus a C$125,000 payment "payable to Vertiqal once revenue is collected in an amount of $125,000 pursuant to the Sales Agency Agreement."

Also, with the sale, Maida won't have to take on any of the "historical debts, liabilities, and unpaid creator obligations that arose prior to the change in ownership;" that'll belong to Vertiqal still. 

Finally, Max Desmarais, the President of Vertiqal Studios, released the following statement: 

"Luminosity is a powerful legacy brand and has a passionate community behind it. We believe placing the brand in the hands of the new ownership is the right decision for its future. This transition enables Vertiqal to concentrate even further on our core growth engines, delivering on the strategy we have been building across our network and operational platforms. We remain aligned with Luminosity as a sales partner and look forward to seeing the brand thrive under its new owner."

How We Got Here

In August 2025, Lumonsity was purchased by Vertiqal Studios from Enthusiast Gaming. Vertiqal Studios had a goal of growing its creator side, including YouTube, Twitch, and social media. Vertiqal was also on the hook for about $2.6 million in debt.

However, after the acquisition, players came forward, including Super Smash Bros. Ultimate player Leonardo ‘MkLeo‘ Perez, saying they weren't being paid. 

At the time, the publication "The Esports Advocate" reached out for comment, and Vertiqal Studios said it had "taken on a distressed company" that also had "management issues." 

The Vertiqal rep also said, “While we knew there were some missed payments, we did not realize the extent of missed payments until we started talking to the creators, vendors and employees recently.”

Right now, past creators who aren't with Luminosity are still owed money.

That said, the website currently shows a Super Smash Bros. Ultimate roster of MkLeo, Sonix, Enrique ‘Maister’ Solis, and Tyler ‘Marss’ Martins. There's also a League of Legends and a Pokémon Unite page, but both are "TBD." Lastly, there's a Pokémon Go page listing Eric "Nitetimeclasher" Wang.