GBarena will acquire Tunisian gaming startup Galactech in a USD 15 mn share swap that will boost the Egyptian e-sport platform’s presence in the MENA region, it said in a statement.
How much of GBarena Galactech will own is unclear: A company representative declined to disclose the details of the agreement when we reached out yesterday, saying the information is confidential.
More acquisitions in the pipeline: GBarena plans to make several more acquisitions in the tech and gaming industry later this year, the company told us. The company is focused on expanding in the GCC region including Saudi Arabia, according to the statement. GBarena already has an on-ground presence in Riyadh and Dubai.
Series A this year: GBarena hopes to close its series A round later this year with further funding from investors in the US, Singapore, and the MENA region. The company is coming off a six-figure pre-series A round in October, led by angel investors including HIM Angels VC network, who have been hot on the startup since the company’s seed investment in 2019.
Galactech is an entertainment e-sports startup that operates in the MENA region. Chosen as one of Africa’s Top 10 best start-ups, It seeks to provide instant and long-lasting solutions for gamers all around the world whether through allowing them to make online purchases or organizing casual and professional e-sports tournaments. Galactech also creates a healthy and nurturing community and supports players all over the world to encourage their growth personally and competitively.
TunisianMonitorOnline
