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Accel-backed Jetapult takes major stake in Saudi-based UMX for $4.5m in an all-cash deal

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Accel-backed Jetapult, a global strategic investment company in the gaming landscape, takes a major stake in Saudi Arabia based UMX Studio. The company invested $4.5mn in an all-cash transaction.

In addition to acquiring equity, Jetapult will provide capital to support the expansion of UMX’s existing portfolio, expand its audiences across global markets, and build games in new genres.

This will be Jetapult’s first investment in the MENA region, with further investments planned in markets like South East Asia and Europe.

Jetapult’s team of global gaming experts, will help catalyse the studio’s capabilities to enhance user acquisition, scale monetization efforts, and adopt cutting-edge analytics and AI tools through their “Invest & Operate” (I&O) model

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Jetapult, co-founded by Sharan Tulsiani and Yash Baid, is backed by Accel Partners, Fireside and JetSynthesys, amongst others. The company aims to support game studios with a scientific approach to sustainable growth in markets such as Southeast Asia, MENA, Eastern Europe, and Latin America, through a $100 million commitment over the next five years.

UMX Studio founded by Mr. Ali Alharbi in 2014, is one of the first homegrown game development studios established in Saudi Arabia. The studio develops high-quality mobile games featuring stunning graphics, engaging gameplay, and suitability for all ages. Their games have garnered over 70 million downloads till date, and the company has shown consistent year-on-year growth, driven by a portfolio of games that consistently top the Apple and Google charts in the region.

The investment comes in the context of the exponential growth of the gaming and e-sports sector in the MENA region with Saudi Arabia representing 39% of the Middle East’s gaming revenue from consumer spending and is the fastest-growing market in the region, according to Sensor Tower, 2024

Jetapult is committed to UMX’s vision of fostering the Saudi Arabian market to become a hub for game development by harnessing Jetapult’s strategic expertise and UMX’s local talent and cultural nuance.

Speaking on the occasion, Sharan Tulsiani, the Co-Founder and CEO of Jetapult said “Jetapult’s investment in UMX goes beyond providing capital; we bring a wealth of proven gaming expertise and cutting-edge technology to this partnership with an aim to enhance gaming experiences across the Middle East’s emerging development ecosystem.”

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Mr. Ali Alharbi – Founder UMX stated “This significant investment from Jetapult not only marks a milestone for UMX Studio but also heralds a new era for the Saudi Arabian gaming industry. We are thrilled to partner with a globally recognized leader in the gaming investments space. This collaboration will not only accelerate our expansion but also empower us with advanced tools and expertise.”

Mr. Rajan Navani, Chairman and MD, Jetsynthesys  said “The people of India and Saudi Arabia have been trusted partners for trade in goods and global expertise for millennia. This strong legacy has been carried forward in the fastest-growing and digital-first market of gaming through Jetapult’s investment in UMX. This partnership of deep expertise and culture will bring together the gaming and eSports communities in both these youthful markets.”

The post Accel-backed Jetapult takes major stake in Saudi-based UMX for $4.5m in an all-cash deal appeared first on European Gaming Industry News.

Aquisitions/Mergers

Nazara Acquires UK-Based PC & Console Gaming Publisher Curve Games For INR 247 Crores

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Nazara Technologies Limited, India’s only publicly listed gaming company, announced the acquisition of 100% ownership in Curve Digital Entertainment Ltd (“Curve Games”), a highly reputed UK-based publisher of PC and console games for INR 247 crores (GBP 21.7 million).

This strategic move strengthens Nazara’s presence in gaming, unlocking access to platforms, genres, and geographies in the US $100 bn+ global PC and console gaming market. The acquisition is consistent with Nazara’s established business strategy of building a diverse portfolio of businesses through targeted acquisitions across interactive gaming and sports media.

Curve Games brings a robust publishing track record, with globally recognized titles that have collectively seen over 100 million downloads. Its presence spans key gaming markets including North America, Asia Pacific, and Europe.

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In calendar year 2024, Curve generated INR 263.5 crores (~GBP 24.4 million) in revenue,  EBITDA of INR 114.4 crores (~GBP 10.6 million) and PBT of INR 49.6 crores (~GBP 4.6 million).

Strategic Fit with Nazara’s Vision

The acquisition is aligned with Nazara’s ongoing efforts to strengthen its global publishing capabilities, and follows a series of similar strategic transactions executed over the years, reaffirming Nazara’s commitment to long-term, value-driven growth through the gaming lifecycle. Curve’s publishing capabilities in the PC and Console space and its diverse portfolio will accelerate Nazara’s global ambitions and enable cross-platform IP development with long-term value creation.

Commenting on the acquisition, Nitish Mittersain, CEO of Nazara Technologies, said: “Curve’s proven expertise in PC and Console publishing makes them an ideal partner as we expand our focus beyond mobile into high-quality, cross-platform gaming. This acquisition deepens our capabilities, brings exceptional IP into our fold, and strengthens our mission in building Nazara as a global gaming powerhouse from India. Curve will also serve as a gateway to the world for Indian game developers.”

Stuart Dinsey, Executive Chairman of Curve Games, added: “Joining the Nazara family is an exciting new chapter for Curve. Nazara’s ecosystem, access to emerging markets and long-term orientation make them a strong strategic partner. We are aligned in our vision of building a leading global indie publishing platform, and we look forward to the next phase of growth together.”

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S8UL acquires North America’s leading Mobile Legends: Bang Bang roster ahead of Esports World Cup 2025

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S8UL Esports, a global powerhouse in esports and gaming content, has officially acquired the renowned North American Mobile Legends: Bang Bang (MLBB) team formerly known as BloodThirstyKings (BTK). With this move, S8UL makes a historic entry into the MLBB competitive circuit, becoming the first Indian organisation to sign a top-tier international MLBB roster ahead of the Esports World Cup (EWC) 2025 and other major tournaments.

The roster joining S8UL comprises:

– Michael “MobaZane” Cosgun

– Ian “FwydChickn” Hohl

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– Jang “Hoon” Seong-hun

– Ziameth-Jei “ZIA” Caluya

– Vo “Shark” Trung

– Carlos “Bestplayer1” Ortega Vega

Founded in 2020, BTK rose to international prominence after their third-place finish at the MLBB M3 World Championship, where they notably defeated the Filipino powerhouse Blacklist International, taking home $80,000 (INR 68.4 lakh). Since then, the team has been a consistent force in North America’s MLBB ecosystem, with multiple regional championship wins and strong global performances to their name.

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The roster officially qualified for the MLBB Mid Season Cup (MSC) at the upcoming EWC 2025 following a dominant run in the recently concluded North America Challenger Tournament (NACT) Spring Season, where they defeated Area 77 in the Grand Finals with a 4-2 scoreline.

With players who have competed across multiple MLBB world championships, S8UL’s newest roster brings immense experience and proven ability to perform under pressure. This acquisition marks a milestone moment for Indian esports, positioning S8UL at the forefront of global competition in one of the world’s most watched mobile esports titles.

Animesh Agarwal, aka 8Bit Thug, Co-founder and CEO of S8UL, commented, “We’re committing to MLBB in a big way — becoming a partnered organization and aligning closely with the S8UL vision, with the legendary Michael ‘MobaZane’ Cosgun leading the charge. As a mobile-first org, MLBB holds a special place for us — it’s the only mobile title among the eight games we’re part of. The game’s growth in India is promising, and we’re excited to contribute to its rise by working closely with key Indian stakeholders. This is just the beginning of what we aim to build with MLBB”

The team’s previous accolades include a hard-fought 4-3 victory over Gaimin Gladiators in the NACT Spring Finals and an unforgettable reverse sweep against Cloud9 in the NACT Fall 2024 Grand Finals, turning a 0-3 deficit into a thrilling 4-3 win. That comeback secured their place at the M6 World Championship, where they went on to finish in the top 10. Collectively, the roster has earned close to $150,000 (approx. INR 1.2 crore) in prize winnings, establishing themselves as one of the most accomplished MLBB teams in North America.

“We’ve been on a long journey together, from grassroots tournaments to the world stage, and every chapter has shaped who we are as a team. Joining S8UL feels like the beginning of something bigger than just competition. It’s about aligning with an organisation that understands not just the game, but the grind, the setbacks, and the stories that build champions. We’re not here just to play, we’re here to evolve, to represent, and to create a legacy that goes beyond titles and trophies. With S8UL behind us, we now have the platform to take that next big leap.” said team captain Michael Cosgun aka MobaZane.

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According to data from Esports Charts, MLBB is the world’s most popular esports game in 2025, with a peak viewership of 2.7 million. The M6 World Championship held last year recorded an impressive peak viewership of 4.13 million and maintained an average viewership of 709,000 across its 120-hour broadcast, making it one of the largest and most-watched esports tournaments of 2024.

At EWC 2025, 16 of the world’s top MLBB teams will compete in double elimination group stages and best-of-5 knockout rounds which will culminate in a best-of-7 grand final. With a $3,000,000 (approx. INR 25.6 crore) prize pool on the line, this year’s MSC is set to be one of the biggest mobile esports events in history.

S8UL’s MLBB roster brings a balanced mix of experience and synergy across all roles. MobaZane leads as the Jungler, with FwydChickn in the EXP Lane and Hoon anchoring the Mid Lane. ZIA handles the Gold Lane, while Shark plays Roamer, driving team engagements. Bestplayer1 adds depth as a second Jungler, offering strategic flexibility for different matchups.

With this announcement, S8UL has now unveiled rosters across seven different titles for EWC 2025. The lineups are as follows:

Apex Legends: Rick Wirth (Sharky), Benjamin Spaseski (Jesko) and Tom Canty (Legacy)

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Call of Duty: Warzone: Colin Bowers-Wilson (Trikempathy), Braxton Trice (Braxtvn), and Ryder Skarzinski (Ryda)

Chess: Nihal Sarin and Aravindh Chithambaram

EAFC25: Jonas Wirth (Jonny) and Aaron Rivera (Happy)

Mobile Legends Bang Bang: Michael Cosgun (MobaZane), Ian Hohl (FwydChickn), Jang Seong-hun (Hoon), Ziameth-Jei Caluya (ZIA), Vo Trung (Shark), and Carlos Ortega Vega (Bestplayer1)

Starcraft II: Pyung Jae Koh (GuMiho)

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Tekken 8: Arja Gamoori (Sephiblack) and Nino Schwarz (Nino)

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Aquisitions/Mergers

MAKE AGENCY INCREASES SPORTS BETTING AND iGAMING POSITION WITH STRATEGIC ACQUISITION OF INDUSTRY SPECIALIST TWO-UP

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Make Agency (in conjunction with DXG Group), through its subsidiary, Two Up Investments, Ltd, has announced the acquisition of the assets of digital product agency Two-Up.

Make Agency, a leading London-based digital creative agency, has strategically acquired the assets of Two-Up Agency, a specialist digital product business renowned for its work within the sports, sports betting, and iGaming sectors. This acquisition significantly expands Make Agency’s capabilities and reinforces its commitment to delivering cutting-edge digital solutions to clients within these key industries.

The acquisition brings Two-Up’s established expertise and track record in creating innovative digital products to Make Agency. Based in London and Poland, Two-Up provides technical solutions to prominent online gaming brands, offering best-in-class technology tools and in-depth market knowledge to clients including Stats Perform, At The Races, and NewsUK.

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Two-Up’s proficiency in user experience, user interface, design and development – alongside a deep understanding of the specific demands of the sports-betting and iGaming sector – perfectly complements Make Agency’s existing creative and strategic marketing strengths.

Industry experts join forces

The acquisition unites two industry experts: Robbie Morris, the former CEO of Two-Up, and Eugene Delaney, the COO of Make Agency, who will now also take on the role of Managing Director for Two-Up.(Ex-Podium/PA Media, Spotlight Sports Group and Flutter).

“We are pleased to integrate the valuable assets and expertise of Two-Up into the Make Agency family,” said Eugene Delaney. “Their specialised knowledge and impressive portfolio within the sports, betting, and iGaming sectors will be invaluable as we continue to grow and enhance our offerings in these key verticals. This acquisition allows us to provide our clients with an even more comprehensive suite of digital solutions, specifically tailored to the unique demands of this dynamic market.”

Robbie Morris added, “Joining forces with Make Agency represents an exciting new chapter. We are eager to integrate our expertise and collaborate with their talented team to deliver exceptional digital experiences for clients within the sports and gaming landscape. We believe this union will create significant synergies and allow us to continue to deliver innovative solutions in this specialised area.”

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