The investment is part of Jetapult’s broader strategy to support game studios in emerging markets with a $100 million commitment over the next five years. The acquisition aims to expand UMX Studio's portfolio and audience in overseas markets, and develop new game genres using Jetapult's expertise and technology. Jetapult has acquired stake in UMX Studio for $4.5 million, marking its first investment in the Middle East and North Africa (MENA) region. Bengaluru-based Jetapult has picked up stake in Saudi Arabia-based game developer UMX Studio for $4.5 Mn (INR 38 Cr) in an all-cash deal, marking the gaming investment company’s maiden bet in the MENA (Middle East and North Africa) region. Founded in 2014 by Ali Alharbi, UMX Studio is a game development studio in Saudi Arabia.

Source: The North Africa Journal October 14, 2024 13:32 UTC