M&A
Gaming investment co. Jetapult acquires Saudi Arabia’s UMX Studio for $4.5 M
Bengaluru-based gaming investment company Jetapult, backed by Accel India and Fireside Ventures, has taken a majority stake in Saudi Arabia-based game developer UMX Studio through an all-cash transaction of USD 4.5 million (about INR 38 crore).This is the company’s first investment in the Middle East and North Africa (MENA) region.Started in 2014, UMX Studio claims to have more than 70 million downloads and 2.7 million monthly active users worldwide.
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