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Savvy Games to acquire gaming company Scopely for $4.9 bln

April 6, 2023
Source: reuters.com reuters.com
News Snapshot:
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. In February,...
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China Tech Buzz Topics: California | Chinese | e-sports | fund | games | gaming | investment | mobile | mobile games | news | online game | Reuters | Saudi Arabia | sports | standards | Tencent

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