GBarena and Galactech Merge in $15 Million Share Swap Deal to Expand Esports in Egypt and Tunisia.

24 Jan 2023

Middle East esports platform GBarena has announced an agreement to acquire Tunisia-based gaming leader Galactech, which has a significant presence in the GCC. GBarena aims to expand into the GCC, including Saudi Arabia, and will leverage Galactech's on-ground presence and capabilities in Riyadh, Dubai, and Tunisia. The acquisition supports GBarena's goal of being the leading aggregator in the Middle East and North Africa and serving all stakeholders in the industry. GBarena and Galactech are both youth-driven and will create a regional powerhouse in the thriving gaming industry.

This acquisition is also in line with the growing trend of esports in the region, with the Middle East and North Africa's gaming industry valued at $3.56 billion. This is expected to grow even more in the coming years, with the GCC investing over $40 billion in infrastructural developments and the adoption of new technologies such as Web 3 and cloud gaming. With the support of GBarena and the resources of Galactech, the combined company is expected to provide gamers, fans, and partners with an unparalleled experience and take esports in the region to the next level. GBarena's CEO, Samer Wagdy, and Galactech's CEO, Houcem Maiza, will be joining forces as co-CEOs and are looking forward to cementing their position as the regional leader in the industry.

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