The Saudi wealth fund-owned Savvy Games Group has revealed its plan to acquire Scopely, a US-based games company, for $4.9 billion.
Savvy Games Group, a gaming and esports company that operates under the Saudi Arabia government's Public Investment Fund, has announced its plan to acquire a mobile games studio Scopely. The acquisition is valued at $4.9 billion and marks a move for Savvy Games Group in expanding its portfolio and strengthening its presence in the gaming industry.
Scopely is the latest in a series of games investments made by the company. Earlier this year, Savvy acquired an esports platform Vindex and also purchased a stake in an esports agency VSPO. Last year, Savvy announced its plans to invest 142 billion riyals ($37.85 billion) in gaming initiatives aimed at establishing the kingdom as a global hub for gaming.
Scopely has gained recognition for its popular mobile games such as Yahtzee With Buddies, Star Trek Fleet Command, Marvel Strike Force, Stumble Guys, and Scrabble Go.
After securing $340 million in a funding round last year, the Los Angeles-based company was valued at $3.3 billion. Scopely has expanded significantly in recent years through several notable acquisitions. In 2020, Scopely acquired FoxNext Games from Disney, and this year, it acquired GSN Games from Sony Pictures Entertainment for $1 billion.
"Scopely is one of the fastest-growing games companies today, and we have long admired their ability to build loyal, engaged player communities. At Savvy Games Group, our mission is to invest in – and grow – the global games community by inviting the best minds to join us," Savvy Games Group CEO Brian Ward commented on the proposed acquisition.
As per the announcement, Scopely will continue to operate independently under Savvy following the acquisition. The agreement will also enable the mobile publisher to "extend its live services expertise to new segments like PC, console, and other genres of gameplay."
When elaborating on the agreement, Walter Driver, co-founder of Scopely, highlighted the similarities between the mobile gaming company and its future parent organization.
"Savvy Games Group shares our long-held belief that the companies who have built the deepest relationships with their players will succeed," Driver said. "Together, as one, we will be able to further expand the possibilities of play, continuing to develop beloved game experiences for players around the world."
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