Merger Between RTE and Galaxy Racer Introduced

Newly Fashioned Entity to Undertake Celestial as its Rebranding

MSM Company Worldwide Restricted (“MSM” or the “Company”) is delighted to unveil the completion of the acquisition by its wholly-owned subsidiary, Riva Expertise and Leisure Restricted (RTE), of all excellent securities in Galaxy Racer Holdings Restricted (GXR), a formidable participant in eSports, content material creation, music, and sports activities (the “Transaction”).

This strategic union marks a pivotal step for each corporations as they search to mix their strengths and assets to drive the success of Celestial, a newly included holding firm with an formidable initiative geared toward establishing a dominant media and sports activities conglomerate, initially targeted on the MENA area and Indian sub-continent.

Based by Paul Roy in 2019, GXR has emerged as a cross-media enterprise, boasting a powerful presence throughout North America, MENA, Southeast Asia, South Asia, and Europe. Notably, GXR lately unveiled a groundbreaking three way partnership with LaLiga, set to revolutionize the sports activities media rights trade inside the MENA area and Indian sub-continent.

Below the phrases of the Transaction, RTE will purchase the remaining securities of GXR that it doesn’t already personal, consolidating their experience and assets to unlock untapped synergies, enhance gross sales, and improve viewers engagement, with a selected emphasis on the burgeoning younger client market within the MENA area and Indian sub-continent, Gulfnews.com says.

To gasoline additional progress and growth, the newly enlarged MSM/RTE group of corporations plans to provoke a considerable fundraising spherical to draw world buyers who acknowledge the immense potential inside the gaming, sports activities and creator economic system sectors. Whereas MSM actively contemplates a possible itemizing on a acknowledged securities change, you will need to be aware that this intention stays topic to numerous exterior elements past the Firm’s management.

Antoine Massad, MSM Chairman, highlights the importance of this merger, stating, “This transaction marks a momentous milestone in our journey. Together, we are building a closed-loop ecosystem that encompasses gaming, IP, consumer product development, licensing, sports collectibles, sports content and distribution, eSports, and the creator economy. This strategic move perfectly aligns with our Celestial investment strategy, positioning ourselves to capitalize on the remarkable growth projected in gaming and eSports across the MENA region and Indian sub-continent. We are excited to tap into the immense potential of these regions and actively contribute to their thriving gaming industry.”

Paul Roy, Founder and CEO of GXR and Founder, Managing Director and CEO of MSM/RTE, shares his insights for the merger, stating, “We are pleased to announce the transaction, a significant landmark moment resulting from meticulous planning and strategic efforts. The combination of GXR’s product and services fueled by a vast audience alongside RTE’s portfolio of successful companies that share the same vision and values is a mix that has already proven successful.
As Celestial takes shape, both companies are primed to leverage their collective strengths, capitalize on emerging opportunities, and shape the future of the media and sports industry. The rebranded holding company shall set its sights on spearheading innovation, engaging audiences, and leaving an indelible mark on the rapidly evolving landscape.”

Hashtags: #Merger #RTE #Galaxy #Racer #Introduced

2023-06-07 18:20:10

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