{"id":578956,"date":"2023-01-19T04:15:08","date_gmt":"2023-01-19T04:15:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/19\/gbarena-to-acquire-tunisian-gaming-startup-galactech-for-usd-15-mn\/"},"modified":"2023-01-19T04:15:08","modified_gmt":"2023-01-19T04:15:08","slug":"gbarena-to-acquire-tunisian-gaming-startup-galactech-for-usd-15-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/19\/gbarena-to-acquire-tunisian-gaming-startup-galactech-for-usd-15-mn\/","title":{"rendered":"GBarena to acquire Tunisian gaming startup Galactech for USD 15 mn"},"content":{"rendered":"

<\/a> GBarena<\/a><\/strong> will acquire Tunisian gaming startup <\/strong>Galactech<\/a><\/strong> in a USD 15 mn share <\/strong>swap<\/strong> that will boost the Egyptian e-sport platform\u2019s presence in the MENA region, it said in a statement<\/a> yesterday.<\/p>\n

How much of GBarena Galactech will own is unclear:<\/strong> A company representative declined to disclose the details of the agreement when we reached out yesterday, saying the information is confidential.<\/p>\n

More acquisitions in the pipeline:<\/strong> 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.<\/p>\n

Series A this year: <\/strong>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<\/a> in October, led by angel investors including HIM Angels VC network, who have been hot on the startup since the company\u2019s seed investment<\/a> in 2019.<\/p>\n

Growing management team:<\/strong> Galatech\u2019s co-founder and CEO, Houcem Maiza (LinkedIn<\/a>), will join GBarena as co-CEO, alongside Mustafa Zaza (LinkedIn<\/a>) and Samer Wagdy (LinkedIn<\/a>).<\/p>\n

For the non-gamers among you: <\/strong>The home-grown startup has been offering users a platform that connects gamers with global tournaments and challenges that can be run through the platform, since 2016. Slightly younger, but just as popular, Galatech has attracted over 200k MENA gamers to its platform since 2019.<\/p>\n

Advisors:<\/strong> Shehata & Partners is acting as the legal advisor and Youssef Salem is providing financial advice on the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Company plans to make more acquisitions in tech and gaming this year<\/p>\n","protected":false},"author":1,"featured_media":578957,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[72,463,7128,95],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-578956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam","tag-gaming","tag-ma-watch","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"a35791de-9542-405b-b7bb-f8cc09ce820d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/330.jpg","photo_position":"above","related_issue":[578942],"teaser":"The Company plans to make more acquisitions in tech and gaming this year"},"yoast_head":"\nGBarena to acquire Tunisian gaming startup Galactech for USD 15 mn - 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The startup plans to invest USD 10 mn\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/128.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550058,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/12\/vezeeta-raises-undisclosed-round-isupply-raises-usd-1-5-mn-pre-seed\/","url_meta":{"origin":578956,"position":1},"title":"Vezeeta raises undisclosed round + i\u2019Supply raises USD 1.5 mn pre-seed","author":"enterpriseam admin","date":"12 October 2022","format":false,"excerpt":"Pharma startups big and small got a shot in the arm yesterday, as Egypt-born Vezeeta and local newcomer i\u2019Supply both scored fresh funding rounds. Vezeeta closes undisclosed round: Digital healthcare platform Vezeeta has raised an undisclosed amount from existing investors Abu Dhabi-based Gulf Capital and Swedish VNV Global, it said\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/201.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566262,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/hey-there-opontia-wink-wink\/","url_meta":{"origin":578956,"position":2},"title":"Hey there, Opontia (wink, wink)","author":"enterpriseam admin","date":"7 June 2021","format":false,"excerpt":"Egypt could receive some of the USD 20 mn Riyadh-based consumer holding startup Opontia has earmarked for regional acquisitions. The company plans to open up offices in Egypt, Nigeria and Turkey in the coming months after raising USD 20 mn in a seed funding round that will finance future acquisitions\u2026","rel":"","context":"In "SPEED ROUND: INVESTMENT WATCH"","block_context":{"text":"SPEED ROUND: INVESTMENT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/440.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557086,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/06\/4-egyptian-startups-secure-usd-125k-seed-funding\/","url_meta":{"origin":578956,"position":3},"title":"4 Egyptian startups secure USD 125k seed funding","author":"enterpriseam admin","date":"6 September 2021","format":false,"excerpt":"Four Egyptian startups secured USD 125k each in seed funding by US accelerator Y Combinator, Magnitt reports. The funding came either following the companies closing pre-seed rounds, or as boosters to companies that are looking to expand and complete acquisitions.The startups: The Egyptian startups include Cairo-based delivery service ShipBlu, ins.\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/76.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557676,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/28\/flat6labs-raised-usd-7-mn-in-second-close-for-tunisia-fund\/","url_meta":{"origin":578956,"position":4},"title":"Flat6Labs raised USD 7 mn in second close for Tunisia fund","author":"enterpriseam admin","date":"28 September 2021","format":false,"excerpt":"Flat6Labs announced the second close for its Tunisia-based Anava Seed Fund, during which it raised USD 7 mn, pushing the fund\u2019s total commitments to USD 10 mn, the company announced (pdf). The fund aims to invest in 75 Tunisian early-startups in a five-year period.The fund was launched in 2017 in\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/377.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":584129,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/27\/giza-systems-wants-to-spend-up-to-usd-40-mn-on-acquisitions-this-year-plus-al-baraka-bank-bdcs-taly\/","url_meta":{"origin":578956,"position":5},"title":"Giza Systems wants to spend up to USD 40 mn on acquisitions this year. PLUS: Al Baraka Bank + BdC\u2019s Taly?","author":"enterpriseam admin","date":"27 March 2023","format":false,"excerpt":"The tech company wants to buy Saudi firms that have Egyptian talent","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/443.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=578956"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578956\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/578942"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/578957"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=578956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=578956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=578956"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=578956"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=578956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}