GBarena, a Middle East e-sports platform, acquires Tunisia’s Galactech. The acquisition deal is valued at around $15 million, in the form of a share swap.
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 on further expansion in the Middle Eastern esports industry. GBArena will leverage the on-ground presence and capabilities that Galactech has in Riyadh, Dubai, and Tunisia.
“Our goal has always been to provide our users with an unparalleled esports experience, no matter where they’re located in the world. With our acquisition of Galactech, we can now ensure that our users from North Africa will have access to identical features and content they have come to expect from us while providing them with extensive opportunities for growth and development within the esports community. This acquisition is one step forward toward achieving the company’s vision, which is to be the leading aggregator in MENA, serving all stakeholders in the industry,” Samer Wagdy, CEO of GBarena, said.
Galactech was founded in 2019 and has over 200K active users.
Shehata & Partners was the legal advisor and Youssef Salem was the financial advisor on the transaction.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.
