Jetapult, the Indian-based company, has acquired a major stake in UMX Studio, a Saudi-based games studio, for $4.5 million.
Why it Matters? The investment marks a significant milestone for gaming studios in Saudi Arabia.
More to Know:
- UMX Studio was founded in 2014 by Ali AlHarbi.
- It developed 16 games that surpassed 70 million downloads in app stores.
- Jetapult focuses on investing in gaming studios and helping them to grow.
- Jetapult has launched a $100 million fund.
- This investment marks the first investment for Jetapult in the region.