Saudi Arabia’s Savvy Games buys mobile games maker Scopely for $4.9 billion
Savvy Games Group, wholly owned by Saudi Arabia’s Public Investment Fund (PIF), has agreed to buy Culver City, California-based mobile game maker Scopely for $4.9 billion, the companies said Wednesday.
Founded in 2011, Scopely will become an independent operation under the Savvy umbrella, they said in a statement, noting that the deal “strengthens Savvy’s global position” and will allow 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 gaming hub.
In February, Savvy bought a $265 million stake in Chinese esports company VSPO, which is backed by Tencent Holdings Ltd.
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