Last Update: April 06, 2023, 02:15 AM IST
Scopely, founded in 2011, will become an autonomous operation under the Sevi umbrella. (Image: Scopely Twitter)
Scopely, founded in 2011, will become an autonomous operation under the Sevi umbrella.
Savvy Games Group, wholly owned by Saudi Arabia’s Public Investment Fund (PIF), has agreed to acquire Culver City, California-based mobile game maker Scopely for $4.9 billion, the companies said on Wednesday.
Scopely, founded in 2011, will become an autonomous operation under the Savi umbrella, he said in a statement, noting the deal will “strengthen Savi’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) with the aim of making the kingdom a global hub for gaming.
In February, Savvy bought a $265 million stake in VSPO, a Chinese e-sports company backed by Tencent Holdings Ltd.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
