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Galaxy Racer buys majority stake in local eSports firm

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Galaxy Racer Holdings Ltd., an eSports organization based in the United Arab Emirates, on Tuesday said it has acquired a majority stake in DreamFyre Group, a local company that was formed at the height of the pandemic last year.

“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 Galaxy Racer, 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,” DreamFyre CEO Mitch Esguerra said in a statement.

Esguerra said the acquisition paves the way for DreamFyre to boost its local operations, and fast-track expansion into two other Southeast Asian markets, targeted within the year.  The deal will enable DreamFyre to better service local Filipino gaming content creators and professional players with more robust and global career development portfolios, the company said.

It will also allow local players to connect with the 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,” the company said.

“DreamFyre’s portfolio will now continually grow as we boost local operations and expand to new game titles and markets, especially that we’re enabled by Galaxy Racer to create better offers to the Content Creators and Pro Players that have trusted us from the start,” Esguerra said.

“This acquisition in DreamFyre further reinforces our plans for building 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,” Paul Roy, Galaxy Racer CEO, said.

DreamFyre was created only last year during the time of world crisis, when it has reached an exclusive network of more than 16 million in digital footprint, and is connected to 90 million in digital footprint, a feat never before seen in such a pace in the world of gaming and eSports talent management.

Galaxy Racer has a diverse international roster of 12 teams boasting of over 65 professionals from 22 countries.

Read full article on BusinessMirror

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