Israeli gaming platform Overwolf today announced the acquisition of UK company Tebex, a platform that allows creators to monetize private game servers, for $29 million.
Overwolf has developed a platform that enables creators to build, share, and monetize in-game apps and mods, and the acquisition supports the company's overall aim of uniting the in-game creator community and empowering them to earn a livelihood from gaming.
Tebex (formerly Buycraft) provides an end-to-end solution for game studios and creators looking to monetize private servers, which spans from managing the creation of webstores to game servers receiving payouts. The company, based in Nottingham, is the industry standard solution for twelve games including Minecraft, ARK: Survival Evolved and Rust. Since its inception, Tebex has helped creators earn over $500 million using its monetization platform, with $10.5 million paid out to creators in December 2021 alone.
Through this acquisition, Overwolf expands into a new creator category - private server owners and creators. Apart from growing this category, the move is synergetic with CurseForge Core, Overwolf’s "mods as a service" offering to game studios. Tebex will continue to operate as a business unit within Overwolf and continue to maintain, build and innovate on its offering to its existing customers.
Tebex CEO Lee McNeil said, "From the moment we first met the team at Overwolf it was apparent of their dedication to the UGC market and ensuring creators get paid for their hard work. Joining Overwolf enables Tebex to expand its offerings to more game servers, publishers, and more importantly, allows us to further grow the communities of our existing game servers. Their commitment to helping us grow the game server industry will push Tebex into our next growth chapter."
Overwolf CEO Uri Marchand added, "Tebex shares in our unwavering commitment of identifying ways to support gaming communities and game studios who want to empower in-game creators that create content on top of their games. As long-time champions of in-game app creators and mod authors, we are excited to work with a new creator category - server owners - to continue to build new experiences in the industry. By combining our industry-leading operations with Tebex’ technology and passionate team, we'll be able to reach more creators and help them earn a sustainable income for their work."
Published by Globes, Israel business news - en.globes.co.il - on March 15, 2022.
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