Savvy Games Group has agreed to acquire mobile game publisher and developer Scopely for $4.9 billion. the companies announced on Wednesday. Scopely was founded in 2011 and the company is known for several popular mobile games including Star Trek Fleet Command, Marvel Strike Force, Looney Tunes World of Mayhem, Scrabble Go, and Yahtzee With Buddies.
Savvy Games Group, a games and esports company that is part of the Saudi government’s Public Investment Fund, said the deal will “strengthen Savvy’s global position while enabling Scopely to accelerate its growth and achievement of its strategic objectives.”
As part of the acquisition agreement, Scopely will become an autonomous operation under the Savvy umbrella, they said in a statement. In addition, Scopely will continue to be led by co-CEOs Walter Driver and Javier Ferreira. Savvy Games is led by CEO Brian Ward, who previously worked at Activision Blizzard, Microsoft Games Studios, and Electronic Arts.
“Scopely is one of the fastest-growing games companies today, and we have long admired their ability to build loyal, engaged player communities,” Ward said in a statement. “Under Walter and Javier’s stewardship, Scopely has proven to be an exceptional leader and will continue to revolutionize the future of games for years to come.”
In a statement, Driver said: “Savvy Games Group shares our long-held belief that the companies who have built the deepest relationships with their players will succeed. Together, as one, we will be able to further expand the possibilities of play, continuing to develop beloved game experiences for players around the world. This transformational partnership is a great validation of the incredible talent of our entire Scopely team and will further accelerate our efforts to drive the games industry forward.”
Added Scopely’s Ferreira, said, “As part of the Savvy Games Group portfolio, we will continue to build one of the world’s most diversified mobile-first games companies. 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.”
Before the acquisition, Scopely long list of backers includes the Chernin Group, NewView Capital, TSG Consumer Partners, the Canada Pension Plan Investment Board (CPP Investments), BlackRock, D1, Battery Ventures, Eldridge, Declaration Partners, Moore Strategic Ventures, Greycroft, Baillie Gifford, Sands Capital, Revolution Growth, Highland Capital Partners and Wellington Management.
In 2022, state news agency SPA reported that Savvy Games would invest 142 billion riyals ($37.85 billion) in initiatives aimed at making the kingdom a global hub for gaming. Just two months ago, Savvy acquired a $265 million stake in the Chinese Esports company VSPO backed by Tencent Holdings Ltd.
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- Source: https://techstartups.com/2023/04/05/savvy-games-acquires-mobile-games-startup-scopely-for-4-9-billion/
