Savvy Games to acquire gaming company Scopely for $4.9 bln – Reuters
- Date: 06-Apr-2023
- Source: Reuters
- Sector:Technology
- Country:Saudi Arabia
Savvy Games to acquire gaming company Scopely for $4.9 bln – Reuters
April 5 (Reuters) - Savvy Games Group, wholly owned by Saudi Arabia's Public Investment Fund (PIF), has agreed to acquire Scopely, a maker of mobile games based in Culver City, California, for $4.9 billion, the companies said on Wednesday.
Scopely, founded in 2011, will become an autonomous operation under the Savvy umbrella, they said in a statement, noting the deal will "strengthen Savvy's global position" and enable Scopely to accelerate growth.
Last year, state news agency SPA said Savvy would invest 142 billion riyals ($37.85 billion) in initiatives aimed at making the kingdom a global hub for gaming.