Abu Dhabi’s twofour54 inks Arab world’s largest gaming deal with sale of Jawaker to Stillfront

The media and entertainment hub twofour54 Abu Dhabi announced that Stillfront Group has agreed to buy the mobile gaming studio Jawaker for Dhs753m, marking a significant milestone in the group’s regional development plan and the largest acquisition of the Arab world’s burgeoning gaming sector.

Jawaker, the first Middle Eastern card games website, inked a financial investment deal with twofour54 in 2011. The service, launched in 2009, allows players to interact with old friends and make new ones without needing to download an app.

.@2454abudhabi has announced the largest gaming acquisition deal in the Arab world with the sale of mobile gaming studio Jawaker to Swedish firm Stillfront Group for AED750m. pic.twitter.com/F49uCPdIyN

— مكتب أبوظبي الإعلامي (@admediaoffice) September 16, 2021

Under the deal confirmed today, Stillfront will acquire 100 per cent of the shares in Jawaker from its owners, which include twofour54, and will pay 74 per cent in cash and 26 per cent in 8,540,092 newly-issued shares in Stillfront.

The deal demonstrates the emirate’s strengthening gaming sector and will lead to further development of homegrown gaming industry talent and the creation of Arab content.

— مكتب أبوظبي الإعلامي (@admediaoffice) September 16, 2021

Michael Garin, CEO of twofour54, said: “twofour54 has been at the forefront of creating an attractive and stimulating environment for game developers in the Middle East, as well as its strategic investments and providing support in all its forms to entrepreneurs and start-ups.

“These investments not only create financial value but also contribute significantly to building Abu Dhabi’s gaming infrastructure and developing homegrown talent capable of driving the growth and development of the sector and creating content that expresses the aspirations of Arab youth.”

James Hartt, director, strategy and business development for AD Gaming, said: “With investments in leading online gaming companies such as Jawaker, twofour54 is truly demonstrating that it is a pioneer of the regional gaming industry.

“This deal clearly demonstrates that the emirate’s gaming sector is moving from strength to strength, and through the AD Gaming initiative, we remain committed to driving its growth in the years to come to reinforce Abu Dhabi’s position as the Arab world’s capital for game developers.”

Among twofour54’s major initiatives to support the growth of the regional gaming industry is The Gaming Centre of Excellence, which will be located at Yas Creative Hub. The centre will provide on-the-ground support to students, professionals and small businesses throughout the Middle East and Africa. The centre is part of a 10-year landmark partnership with Unity Technologies.