Tunisian Galactech acquired by GBarena
GBarena, the leading Middle East esports platform, today announced an agreement to acquire Tunisia-based Galactech, the gaming leader in North Africa alongside a significant presence in the Gulf Cooperation Council (GCC). The transaction expands GBArena’s footprint into the burgeoning North African market and signals their intentions to expand further including throughout the GCC.
Galactech, founded in 2019, has been making waves in the North African gaming scene since its launch in 2019. With over 200,000 active users, they have become one of the most popular gaming platforms in North Africa and beyond in the region.
Valued at around 15 million USD, in the form of a share swap, it marks the second Tunisian acquisition this month following Instadeeps whopping 562 million Pound transaction by BioNTech.
This marks a milestone transaction for GBarena in anticipation of closing its Series A later this year, with participation from investors in the US, Singapore and the MENA region. This acquisition comes in alignment with GBArena’s planned expansion into GCC, including Saudi Arabia. With the entry into North Africa executed via this transaction, the focus will continue further expansion in the Middle Eastern esports industry. GBArena will leverage the on-ground presence and capabilities that Galactech has in Riyadh, Dubai and Tunis. Read More…
