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| Image Credit: Scopely (venturebeat) |
Saudi’s Savvy Games Group, a subsidiary of the Saudi government’s Public Investment Fund, has acquired mobile games studio Scopely for $4.9 billion. Scopely is known for several popular mobile games including Yahtzee With Buddies, Star Trek Fleet Command, Marvel Strike Force, Stumble Guys and Scrabble Go. This acquisition marks the sixth biggest acquisition in video games history in terms of price.
Scopely is a mobile game development studio based in Los Angeles, was established in 2011. The company has earned recognition for producing several well-liked mobile games including Yahtzee With Buddies, Star Trek Fleet Command, Marvel Strike Force, Stumble Guys and Scrabble Go.
Scopely has undergone substantial growth in recent years through several notable acquisitions. In the year 2020, Scopely acquired FoxNext Games, which was formerly owned by the esteemed Disney corporation. The year 2021 saw Scopely acquire GSN Games, a subsidiary of Sony Pictures Entertainment, for an astounding sum of one billion dollars.
Savvy Games Group is an esports company that is part of the Saudi government’s Public Investment Fund. The company’s mission is to invest in and grow the global games community by inviting the best minds to join them.
Savvy Games Group CEO Brian Ward stated that Scopely is one of the fastest-growing games companies today, and the company has long admired their ability to build loyal, engaged player communities. As part of the Savvy Games Group portfolio, Scopely will operate as an autonomous company. The company will continue to be led by co-CEOs Walter Driver and Javier Ferreira.
Savvy says the acquisition will strengthen its ability to deliver new products for the global gaming community. The company also says the acquisition will also build on Scopely’s cross-platform approach to extend its live services expertise to new segments like PC, console and more.
Earlier this week, Bloomberg reported that the Saudi Arabian government is betting $38 billion to become the next hub for the video game industry. This includes Savvy Games Group’s plan to develop and acquire top-tier games.
Savvy Games Group’s acquisition of Scopely for $4.9 billion is a significant move for both companies. It will strengthen Savvy’s ability to deliver new products for the global gaming community and build on Scopely’s cross-platform approach. This acquisition marks the sixth biggest acquisition in video games history in terms of price.
