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twofour54 announced the details of the acquisition of Jawaker by the Swedish group Steelfront, specializing in the electronic games sector, which is the largest acquisition in the Arab world in the electronic games sector.
In 2011, twofour54 signed a financial investment agreement with Jawaker, which enabled the company to benefit from the rapid expansion of the online gaming industry over the past decade.
As part of the transaction, Steelfront will acquire 100% of the shares of Jawaker FZ LLC (Jawaker) and will pay 74% of the total value of the transaction in cash, and 26% payable in 8,540,092 new issued shares in Steelfront.
Jawaker is the first Arabic-language card game site that allows players to connect with and make new friends while playing online.
The site was launched in 2009 and does not require any software downloads, but players can start playing directly through the browser.
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