Saudi’s Savvy Games Group to acquire mobile games company Scopely for $4.9 billion

techcrunch.com:

Savvy Games Group, a games and esports company that is part of the Saudi government’s Public Investment Fund, has agreed to acquire mobile games studio Scopely for $4.9 billion. Founded in 2011, Scopely is known for several popular mobile games including Yahtzee With Buddies, Star Trek Fleet Command, Marvel Strike Force, Stumble Guys and Scrabble Go.

The Los-Angeles based company had a $3.3 billion post-money valuation in 2020 after raising a $340 million funding round. Scopely has grown over the past few years with a number of notable acquisitions. In 2020, Scopely acquired Disney’s FoxNext Games, and in 2021, the company acquired Sony Pictures Entertainment’s GSN Games For $1 billion.

“Scopely is one of the fastest-growing games companies today, and we have long admired their ability to build loyal, engaged player communities,” said Savvy Games Group CEO Brian Ward in a press release. “At Savvy Games Group, our mission is to invest in – and grow – the global games community by inviting the best minds to join us.”

Scopely will operate as a “autonomous company” under the Savvy umbrella, which includes esports firms ESL and Faceit. The company will continued to be led by co-CEOs Walter Driver and Javier Ferreira.

“As part of the Savvy Games Group portfolio, we will continue to build one of the world’s most diversified mobile-first games companies,” said Scopely co-CEO Javier Ferreira in a press release. Our technology platform, market-leading studio ecosystem, and 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.”

Savvy