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 US$4.9 billion, the companies said.
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, Reuters reported.
Savvy would invest US$37.85 billion amid its policy that aimed at making the kingdom a global hub for gaming.
In February, Savvy bought a US $265 million stake in the Chinese E-sports company VSPO backed by Tencent Holdings Ltd.
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