Savvy Games Group, part of the Saudi government’s Public Investment Fund, has agreed to acquire the closely held game publisher Scopely Inc. for $4.9 billion, the companies said Wednesday in a statement.
(Bloomberg) — Savvy Games Group, part of the Saudi government’s Public Investment Fund, has agreed to acquire the closely held game publisher Scopely Inc. for $4.9 billion, the companies said Wednesday in a statement.
Founded in 2011, Scopely publishes free-to-play, social games like Yahtzee With Buddies, Stumble Guys and Marvel Strike Force. The Culver City, California-based company has raised money multiple times over the years from investors such as the Chernin Group. It’s often grown through acquisitions, including that of the FoxNext video-game business and GSN Games, a unit of Sony Group.
“Scopely is one of the fastest-growing games companies today, and we have long admired their ability to build loyal, engaged player communities,” Savvy Chief Executive Officer Brian Ward said in the statement.
Ward added that he wants to accelerate that growth by continuing to invest in new products. In its first year, Savvy has made several splashy investments in gaming companies, including esports firms ESL and Faceit, part of the kingdom’s overall $38 billion investment in video gaming.
Ward told Bloomberg News in a recent interview that he wanted to shift Savvy’s investments to developing games, particularly in Saudi Arabia.
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