Savvy Games Group announces $4.9bn Scopely acquisition
Saudi Arabian esports and gaming company Savvy Games Group (SGG) has acquired mobile game developer Scopely for $4.9bn (~£3.9bn).
Subject to regulatory approval, the deal is said to strengthen the position of Savvy Games Group in the global gaming and esports markets.
Founded in 2011, Scopely’s portfolio contains a diverse range of mobile games ranging from board games such as Scrabble to collaborations with the likes of Marvel and WWE. In February, Eric Wood joined the developer as its Senior Vice President of Publishing. Scopely continues to grow with offices across the United States, Europe and Asia.
According to a release, Savvy Games Group will provide Scopely with ‘long-term, patient financial backing’ to consolidate its position within the mobile gaming sector, alongside executing plans to build on the developer’s aim to extend its services to new platforms.
In addition to supporting Scopely, the acquisition from SGG is a continuation of its plans to align with Saudi Arabia’s Vision 2030 project which aims to create job opportunities and economic growth within the Kingdom.
Savvy Games Group’s acquisition of Scopely is the second major investment from the company this year. In February, SGG invested $265m (~£212.6m) into Chinese esports tournament operator VSPO, making it the largest equity holder. Moreover, Savvy Games Group is also the owner of esports tournament goliath ESL FACEIT Group.
Brian Ward, CEO of Savvy Games Group, spoke on the deal: “Scopely is one of the fastest-growing games companies today, and we have long admired their ability to build loyal, engaged player communities. 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 has proven to be an exceptional leader and will continue to revolutionize the future of games for years to come. We look forward to further accelerating the company’s ambitions and working together with their talented team of developers, designers, and publishers.”