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Saudi Arabia's Savvy Games To Acquire Gaming Company Scopely For $4.9 Billion

 1 year ago
source link: https://games.slashdot.org/story/23/04/05/2132241/saudi-arabias-savvy-games-to-acquire-gaming-company-scopely-for-49-billion
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Saudi Arabia's Savvy Games To Acquire Gaming Company Scopely For $4.9 Billion

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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. Reuters reports: 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.

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