Jetapult Acquires USD 4.5 Mn Stake in Saudi-based UMX Studio to Fuel Global Expansion This acquisition marks Jetapult's first foray into the Middle East and North Africa (MENA) region, underscoring its intention to broaden its investment footprint. The company also has plans for further investments in key markets, including Southeast Asia and Europe.
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Bengaluru-based gaming investment company Jetapult has acquired a significant stake in Saudi Arabian game developer UMX Studio in an all-cash deal worth USD 4.5 million.
The Accel-backed company aims to support UMX's expansion into global markets, enhance its gaming portfolio, and fund new game development across various genres.
This acquisition marks Jetapult's first foray into the Middle East and North Africa (MENA) region, underscoring its intention to broaden its investment footprint. The company also has plans for further investments in key markets, including Southeast Asia and Europe.
"Jetapult's investment in UMX goes beyond capital; we bring proven gaming expertise and cutting-edge technology to enhance gaming experiences within the Middle East's burgeoning development ecosystem," said Sharan Tulsiani, Co-founder and CEO of Jetapult.
Jetapult, co-founded by Sharan Tulsiani and Yash Baid, is supported by prominent investors such as Accel Partners, Fireside, and JetSynthesys. The firm has committed USD 100 million to invest in game studios across Southeast Asia, MENA, Eastern Europe, and Latin America over the next five years.
The deal comes amid rapid growth in the gaming and esports sector in the MENA region, with Saudi Arabia contributing to 39% of the Middle East's gaming revenue, according to a 2024 Sensor Tower report.
Ali Alharbi, Founder of UMX Studio, shared his excitement about the partnership, saying, "This investment from Jetapult marks a milestone for UMX Studio and the Saudi Arabian gaming industry. This collaboration will accelerate our expansion and empower us with advanced tools and expertise."
Founded in 2014, UMX Studio develops mobile games for all age groups. The studio's titles have been downloaded over 70 million times, reflecting steady year-over-year growth in engagement and popularity.
