- Saudi Arabia-based gaming platform Savvy Games Group, owned by the country's sovereign wealth fund, the Public Investment Fund (PIF), has acquired California-headquartered game developer and publisher, Scopely for $4.9 billion.
- The acquisition is intended to strengthen Savvy’s ability to “deliver new and exciting products” for the global gaming community.
- In February, Savvy invested $265 million in Chinese tournament operator VSPO.
- Launched in January last year, Savvy plans to invest $38 billion with the aim of turning the kingdom into one of the world's major gaming hubs.
Savvy Games Group (“Savvy”), wholly owned by Saudi Arabia’s Public Investment Fund (“PIF”), has entered into an agreement to acquire Scopely for $4.9 billion.
The acquisition, subject to regulatory approval, strengthens Savvy’s ability to deliver new and exciting products for the global gaming community.
Scopely has a proven track record of developing and publishing a wide range of games, particularly on mobile platforms. The company’s highly successful portfolio of beloved free-to-play franchises includes “Star TrekTM Fleet Command,” “Stumble Guys,” “ScrabbleⓇ GO,” “YahtzeeⓇ With Buddies,” and more.
This acquisition brings Scopely’s development capabilities, publishing infrastructure, and differentiated technology to the Savvy ecosystem, along with a global footprint of talented gamemakers across North America, Europe, and Asia.
Brian Ward, CEO of Savvy Games Group, said: “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. Under Walter and Javier’s stewardship, Scopely has proven to be an exceptional leader and will continue to revolutionize the future of games for years to come. We look forward to further accelerating the company’s ambitions and working together with their talented team of developers, designers, and publishers to create innovative and exciting new products for the gaming community across the world.”
As an autonomous operating company under the Savvy umbrella, Scopely will benefit from Savvy’s long-term patient financial backing to deliver on its strategy to grow and deepen existing franchises, unlock new player audiences through innovative game experiences, and work with the best talent and studios across the industry through strategic partnerships and acquisitions. This acquisition will also build on Scopely’s cross-platform approach to extend its live services expertise to new segments like PC, Console, and other genres of gameplay.
Scopely co-CEO Walter Driver, said, “Today’s announcement marks a major milestone in the Scopely journey. Savvy Games Group shares our long-held belief that the companies that have built the deepest relationships with their players will succeed. 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. This transformational partnership is a great validation of the incredible talent of our entire Scopely team and will further accelerate our efforts to drive the games industry forward.”
Scopely co-CEO Javier Ferreira, said, “As part of the Savvy Games Group portfolio, we will continue to build one of the world’s most diversified mobile-first games companies. Our technology platform, market-leading studio ecosystem, and the world-class team have always enabled us to stay one step ahead of the rapidly growing games industry, delivering long-lasting franchises that delight players around the world. We look forward to reimagining the future of play with Brian and the Savvy team.”
This investment further supports Savvy’s strategy to drive the growth of the global games industry through long-term strategic investments. Savvy’s investments are made to strengthen the core competencies of its partners, enabling them to focus on delivering stand-out services and experiences for their communities and creating new opportunities for progression and participation.
J.P. Morgan acted as the lead financial advisor to Savvy on this transaction. Bank of America and Aream also acted as financial advisors to Savvy, and Latham and Watkins acted as legal advisor.