The U.S. Mobile game developer Scopely announced that it has been acquired by Saudi Arabia’s game group Savvy Games Group for $4.9 billion (currently about RMB 33.712 billion).
The official announcement says Scopely will become an autonomous operating company under Savvy, joining other complementary gaming companies such as ESL FaceIt Group, an eSports brand. Through this partnership, Scopely will benefit from Savvy’s ecosystem and long-term commitment to helping the company achieve its ambitious goals.
Scopely has developed handheld games such as Star Trek: Elite Commander, Marvel’s Shin Megaman Warriors, and The Walking Dead: Road to Survival.
As Bloomberg previously reported, the Saudi Arabian government plans to invest $38 billion (currently about RMB 261.44 billion) to turn the country into a new hub for the video game industry. This is part of the country’s strategy to diversify its economy away from its dependence on oil.
The Saudi sovereign wealth fund PIF, a wealth fund chaired by Crown Prince Mohammed bin Salman, whose subsidiary Savvy Gaming Group is the main force behind its entry into the gaming industry, reportedly plans to invest $38 billion to create a hub for the video game industry.
The Saudi sovereign wealth fund has invested billions of dollars in several of the world’s leading gaming companies, including Nintendo, Tencent, Activision Blizzard, Embracer, Capcom and Nexon, and has increased its stake in Nintendo several times, now holding an 8.26% stake, making it the company’s largest outside shareholder.
Savvy Gaming Group CEO Brian Ward previously said they have about $13 billion (currently about RMB 89.44 billion) to spend on a game publisher, but he thinks EA is too big to consider.