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

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.”

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.”

La Française des Jeux (FDJ) announces the success of its tender offer for Kindred Group plc, a leading player in the online betting and gaming sector in Europe.

At the end of the offer period ending on 2 October, 195,659,291 Kindred Swedish Depository Receipts (SDRs), representing 90.66% of the Group’s capital, were tendered. FDJ had also acquired 2,400,000 Kindred SDRs directly from Veralda, representing 1.11% of the Group’s share capital.

With the condition precedent of controlling more than 90% of Kindred’s share capital¹ fulfilled, FDJ decided to complete the acquisition of Kindred Group plc. Settlement-delivery for Kindred shareholders who have tendered their SDRs to the offer will take place from 11 October and FDJ will implement a squeeze-out procedure on Nasdaq Stockholm.

In addition, FDJ announces that it is extending its offer until 18 October 2024 at 5 p.m. CEST to enable Kindred shareholders who have not tendered their shares to do so on unchanged terms, i.e. SEK 130 per SDR. Settlement and delivery will take place from 29 October.

Kindred is one of the top five online betting and gaming players in Western Europe, present in seven of the top ten European markets, chief among them the Netherlands, the UK, France, Sweden and Belgium. It offers a comprehensive online offering (sports and horse betting, poker and casino), operating brands such as Unibet and 32Red.

This transaction of nearly €2.5 billion creates a European champion with a diversified and balanced profile, based on monopoly activities, primarily lotteries, in France and Ireland, and on online sports betting and gaming activities open to competition in Europe.

The new combined group resulting from this offer will generate around 26% of its revenue internationally, and its online gaming range open to competition will account for around 27% of its business.

Stéphane Pallez, Chairwoman and CEO of the FDJ Group, said: “I am delighted to announce today the acquisition of Kindred, a leading European player in the competitive online betting and gaming sector. Kindred has strong brands, recognised technological excellence and an attractive growth and profitability profile, all of which will bolster FDJ’s strengths. The two groups also share high standards for responsible gaming and a business model that combines performance and responsibility. This acquisition creates a new European champion that intends to pursue its strategy of sustainable and profitable growth for the benefit of all its stakeholders.”

DAZN, the world’s leading sports entertainment platform, has secured the exclusive broadcast rights for the new Super League Basketball (SLB), with all games to be aired for free to audiences worldwide. With the season beginning on Friday 27 September, the agreement grants DAZN comprehensive rights to broadcast the men’s competition globally, including to the domestic UK audience.

DAZN will create a dedicated on-platform environment for Super League Basketball which will house live and on demand content from across the competition. Fans will be able to enjoy action from the league, all of which will be available at no cost.

The deal comes at a pivotal moment in British basketball history, as Super League Basketball recently announced the unification of the elite men’s and women’s leagues under one brand. This unification aims to increase the visibility of basketball in the UK and to worldwide fanbases.

DAZN’s unparalleled scale and significant basketball audience is uniquely poised to supercharge the growth of SLB. This strategic partnership marks an opportunity for British basketball with the commitment of DAZN, as the exclusive broadcaster, to work collaboratively to find innovative and personalised ways of creating content, engaging fans and reaching new audiences.

Shay Segev, CEO of DAZN Group, said: “We want to use our reach and industry-leading technology to bring these competitions to existing and new audiences, fostering a truly fan-centric global community. Super League Basketball is at a turning point in its history and is a property with exceptional potential for commercial growth – we are delighted to add it to our growing international portfolio of basketball and to join them in building an exciting future. DAZN is rapidly becoming the global Home of Basketball and SLB will form an important part of this.”

Through its agreement with FIBA, which includes Courtside 1891, DAZN also streams live FIBA matches, including FIBA World Cups, as well as all FIBA Continental Cup competitions and U19/U17 World Cups. Users can also watch live and on-demand regional club competitions, such as the Basketball Champions League, the Intercontinental Cup, the EuroLeague Women and the East Asia Super League, as well as national leagues such as, the NBL, the Japanese B. League and others.

Vaughn Millette, interim Chair of Super League Basketball, said: “We are delighted to partner with DAZN for our global broadcast media rights. From our earliest conversations, we’ve been impressed by DAZN’s unwavering passion to promote and grow the sport of basketball. Bringing innovation and imagination to enable us to best serve our fans, the teams and continuous broadcast coverage of the league.

“Over the last few years, DAZN has demonstrated its commitment to growing the sport by securing numerous international basketball rights. SLB’s addition to this line-up, means that fans will find a broadcast home for basketball on DAZN. Super League fans will be able to watch every game live and free to air as we take our place alongside the likes of France and Italy’s elite national basketball leagues. We can’t wait to get started.”

Through the dedicated Super League Basketball environment on DAZN, content from across the English competitions will be positioned alongside DAZN’s other free offerings, marketed to both its main subscriber base and basketball enthusiasts globally. With a user interface initially available in English, the service will expand to up to seven languages, including Spanish, Italian, German, Japanese and Portuguese in select markets.