Scopely is set to be acquired by Savvy Games, a subsidiary of PIF, for $4.9 billion.
In a significant move in the world of gaming, Scopely, a popular mobile game developer, is set to be acquired by Savvy Games, a subsidiary of the Public Investment Fund (PIF) of Saudi Arabia. The deal is valued at $4.9 billion and is expected to provide a significant boost to Savvy Games’ portfolio of gaming companies.
Scopely is best known for developing popular mobile games such as “Star Trek Fleet Command,” “The Walking Dead: Road to Survival,” and “Scrabble GO.” The company has a strong track record of producing successful games that have been downloaded by millions of players around the world. With this acquisition, Savvy Games aims to expand its presence in the gaming industry and strengthen its position as a leading player in the global gaming market.
The acquisition of Scopely is part of Savvy Games’ broader strategy to invest in high-growth sectors, particularly in the technology and entertainment industries. The PIF subsidiary has been actively seeking investment opportunities in these sectors, and the acquisition of Scopely is a significant milestone in its efforts to expand its portfolio of gaming companies.
Commenting on the acquisition, Yasir Al-Rumayyan, the governor of PIF, said, “We are excited to announce the acquisition of Scopely, which has a proven track record of producing successful mobile games that have resonated with millions of players around the world. This acquisition aligns with our broader strategy to invest in high-growth sectors and demonstrates our commitment to supporting innovation and growth in the global gaming industry.”
He added, “We believe that Scopely has a strong management team and a talented group of developers who will be instrumental in helping us to achieve our goals in the gaming industry. We look forward to working closely with the Scopely team to unlock the full potential of this exciting business.”
The acquisition of Scopely is expected to provide a significant boost to Savvy Games’ portfolio of gaming companies, which already includes companies such as Playrix and Coda Games. With the addition of Scopely, Savvy Games will have access to a broader range of popular games and will be able to leverage the company’s expertise in game development and marketing to drive growth and expand its reach in the global gaming market.
For Scopely, the acquisition represents a significant opportunity to expand its business and accelerate its growth in the global gaming market. The company will now have access to the resources and expertise of Savvy Games, which will help it to develop new games, reach new audiences, and continue to innovate in the mobile gaming space.
In a statement, Walter Driver, the co-founder and CEO of Scopely, said, “We are excited to be joining forces with Savvy Games and the PIF, who share our vision for the future of gaming. With their support, we believe that we can continue to build on our success and bring innovative new games to players around the world.”
The acquisition of Scopely is expected to be completed in the coming months, subject to regulatory approval. Once completed, the acquisition will mark a significant milestone for Savvy Games and the PIF, as they continue to expand their presence in the global gaming market and invest in high-growth sectors.
Overall, the acquisition of Scopely by Savvy Games is a significant development in the world of gaming, and one that is likely to have a significant impact on the global gaming industry. As Savvy Games continues to expand its portfolio of gaming companies and invest in high-growth sectors, it is likely to emerge as a leading player in the global gaming market, paving the way for continued innovation and growth in the years to come.
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