United Arab Emirates-based eSports company Galaxy Racer Holdings Ltd. has acquired a majority stake in rising local esport organization DreamFyre Group Inc.
In a statement, DreamFyre CEO Mitch Esguerra said the acquisition by Galaxy Racer paves the way for local eSports to boost its local operations, and fast-track expansion into two other Southeast Asian markets, targeted within the year.
The deal will also enable DreamFyre to better service local Filipino gaming content creators and professional players with more robust and global career development portfolios, he said.
“The vision of DreamFyre has always been to become a global eSports and gaming agency, to bring Filipino talent onto the global arena; and with this infusion of funds, support, network, and resources by GalaxyRacer, we’re sure to be able to bring that vision into reality in a much shorter time frame. DreamFyre is incredibly pleased to join the Galaxy Racer family,” Esguerra said.
The acquisition will also allow local content creators to connect with a global advertiser base.
“This takes the local eSports industry to a whole new level, as the joint operations of both companies now span across 22 countries,” Esguerra said.
He said that DreamFyre’s portfolio will now continually grow as the company boosts local operations and expand to new game titles and markets since it is enabled by Galaxy Racer to create better o?ers to the content creators and pro-players.
For his part, Galaxy Racer CEO Paul Roy said the firm’s acquisition in DreamFyre further reinforces its plans to build a “complete ecosystem around eSports, entertainment, lifestyle, and content.”
“GXR DreamFyre will benefit from Galaxy Racer’s international experience and resources and we are committed to this acquisition to fund the growth and support the vision the founders have set for GXR DreamFyre,” Roy said.—AOL, GMA News