Game District Acquires Majority Stake in Gleam Games
Foreks - A new acquisition news has emerged from the game sector, one of the strongest verticals in Turkey's entrepreneurship ecosystem. Game District, a Southeast Asia-based game studio known as a global leader in mobile games with over 2 billion downloads, has acquired the majority stake in Turkish company Gleam Games, recognized for its puzzle game EverBlast.
One of the first corporate acquisition announcements for the fourth quarter comes from the game industry. Game District, one of the largest game studios in Southeast Asia, has acquired the majority stake in the quickly-growing local player Gleam Games. With over 2 billion downloads, Game District, a prominent leader in the mobile gaming sector, has incorporated Gleam Games, the producer of the popular puzzle game EverBlast, into its portfolio. Financial details of the agreement have not been disclosed.
Founded by Eser Yoğurtcu, Berkay Bekil, and Furkan Bekil, Gleam Games is recognized as one of the fast-emerging startups in the casual gaming sector and had completed an investment round led by IstCapital in April 2023. In a round that also included investors such as Fatih İşbecer, Fırat İşbecer, Ludus VC, and Tera Portföy, the company received an investment of $1 million, bringing its total investment to $2 million.
"Innovation will meet expertise" Sharing his thoughts on the matter, Game District CEO Saad Hameed stated, "This acquisition marks a significant step towards our mission of becoming a global leader in mobile gaming. By joining forces with Gleam Games, we believe we will set new standards in the gaming industry and create extraordinary outputs. The partnership between Game District and Gleam Games will unlock a new era built on creativity and innovation in the gaming world."
Saad Hameed noted that Game District stands out as a rapidly growing company in mobile game development and publishing in the MENA region (Middle East and North Africa), distinguished by its innovative structure. "Game District, which has reached 2 billion downloads and 7 million daily active users, holds a unique position in the industry thanks to its extensive collaboration network and agreements with international brands like the NFL. We aim to further this success by combining it with Gleam Games' puzzle game experience and game development technologies," he added.
"Gleam Games is not just a studio that develops successful mobile games; it is also a company that effectively utilizes data, artificial intelligence, and new developer tools to produce game technology. This gives Gleam Games an innovative edge that allows it to create more immersive and dynamic gaming experiences. The acquisition of Gleam Games reinforces Game District's goal of becoming a global leader in mobile gaming while establishing a partnership that combines innovation and expertise in the industry."
Eser Yoğurtcu to Join Game District as CSO As part of the agreement, Eser Yoğurtcu, Co-founder and CEO of Gleam Games, will join Game District as Chief Strategy Officer (CSO). A serial entrepreneur with significant roles at Peak Games, which was acquired by Zynga for $1.8 billion, shared his thoughts on the agreement: "I have been involved in projects that have made a mark in the industry at Peak Games and Gleam Games. Now, as CSO at Game District, I am here to shape the future of mobile games and create a difference in the industry with bold steps. With my innovative perspective and entrepreneurial experience, I believe we will strengthen Game District's position in the industry and build a brand that shapes the sector."
Commenting on Eser Yoğurtcu's joining, Game District CEO Saad Hameed said, "Yoğurtcu's entrepreneurial spirit and successful track record in the industry are a great asset for Game District. As Game District, we want to create new standards in the industry and push the boundaries. By adding Yoğurtcu's vision to our leadership team, I’m confident that we will accelerate Game District's growth and increase its influence in the industry."
Determined to Create a Dynamic Game Community Saad Hameed expressed that the acquisition of Gleam Games aligns with the vision of developing the gaming ecosystem in Turkey and positioning the country as an innovation hub in the gaming sector. He concluded his remarks by stating, "Both companies aim to add dynamism to the gaming ecosystem by promoting cooperation among the strong player community and game developers in Turkey and Europe. With this acquisition, Gleam Games plans to expand its portfolio, which includes puzzle games like EverBlast that reach hundreds of thousands, and develop projects in new game genres. With Game District’s acquisition of a majority stake in Gleam Games, we are also ready to collaborate with other studios in Turkey and Europe."