Summary:

On 17 January 2023, Egyptian e-sports firm GBarena announced the acquisition of Tunisian firm Galactech in a share swap valued at $15 million. Galactech’s CEO, Houcem Maiza, will be joining GBarena as Co-CEO alongside Samer Wagdy. GBarena plans to expand a growing community of e-sports players and event organizers to provide a more integrated set of e-sports services across the Middle East market. Galactech will bring its 200,000 users and experience in the North African market into the new partnership.

Outlook:  

While overshadowed somewhat by the recent InstaDeep acquisition, Galactech’s move to partner with GBarena is a positive sign for the Tunisian startup community as the firm has leveraged the information technology skills prevalent among young Tunisians to capture a piece of a rapidly growing market.

Explore our services or speak with our team of North Africa-based risk experts.