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Thursday, February 9, 2023

Galaxy Racer and Riva Technology and Entertainment announces acquisition of VY Esports

 Riva Technology and Entertainment (RTE), the leading gaming and technology investment group, together with its sister company, Galaxy Racer (GXR), the largest esports, gaming, and lifestyle organization in the world, has announced its acquisition of VY Esports.

The VY Esports platform POPC Lounge enables creators to connect with their superfans through monetized digital experiences involving live streams, 1:1 live video chats, merchandise sales, and other unique online engagements. The company also services the live events industry by creating a hybrid model, adding a new revenue stream so viewers from around the world can access selected live content and interact with talents through digital activations.

The POPC Lounge platform will serve as the virtual arm for the upcoming ‘POPC Live!’ mega event in Dubai that is beginning in March 2022.

Founder and CEO of Riva Technology and Entertainment, Founder and CEO of Galaxy Racer, Paul Roy said: “We are excited to announce Riva Technology and Entertainment and Galaxy Racer’s acquisition of VY Esports, which we absolutely believe will bring amazing synergy to our group of companies. We are delighted to work with our new board member from VY Esports and advisory board member from Raine Ventures, as we leverage their expertise to grow the business.”

Founder and CEO of VY Esports, Oleg Butenko, said: “We are thrilled to be part of Riva Technology and Entertainment and Galaxy Racer, as we strongly believe in Paul Roy’s vision. With the POPC Lounge platform, we will push hyper-growth across the vast RTE and Galaxy Racer influencer network. ” 

VY Esports was founded by CEO and founder Oleg Butenko, a digital entrepreneur who has founded businesses focused on music, telecom, and esports. As part of the acquisition, Oleg Butenko, Founder and CEO of VY Esports will be joining the board of Riva Technology and Entertainment.

Additionally, Gordon Rubenstein, Managing Partner of Raine Ventures will be joining the advisory boards of both Riva Technology and Entertainment and Galaxy Racer. 

Riva Technology and Entertainment (RTE) was founded in 2002 with a global presence stretching from the USA to East Asia. RTE has successfully been delivering the “vision of tomorrow”. RTE’s group of companies hold an industry advantage in their ability to successfully take every project from concept to execution; all housed under one roof. The complementary companies cover location-based entertainment, brand and Intellectual Property licensing, content development, consumer products, gaming, and esports. 

RTE has a 20-year history of dealing with partners in multiple sectors of the gaming industry, evidenced by its highly experienced core team. 

Galaxy Racer (GXR) was founded in 2019 and is the largest esports, gaming and lifestyle organization in the world, with over 100 content creators across Middle East North Africa (MENA) and Southeast Asia (SEA), amassing over 500 million followers and generating over 2.5 billion monthly views.

Ngugen Tshoma
Ngugen Tshoma
Business & Mobile Gaming news reporter for the Asia Pacific at TalkEsport.com.

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