- Games and esports company Savvy Games Group (“Savvy”), wholly owned by Saudi Arabia’s Public Investment Fund (“PIF”), has completed its acquisition of Scopely for $4.9 billion.
- Scopely is a leading games publisher and developer with a track-record of innovation and a catalogue of successful mobile-first titles.
- Savvy is dedicated to growing the global games industry through long-term strategic investments in businesses such as Scopely.
- The acquisition strengthens Savvy’s global position, whilst enabling Scopely to accelerate its growth and achievement of its strategic objectives.
Riyadh – July 12, 2023: Savvy Games Group (“Savvy”) has acquired Scopely, a leading video game company, for $4.9 billion.
The acquisition, which was agreed to in April 2023, has been completed following receipt of the required regulatory approvals.
Scopely has a proven track record of developing and publishing a wide range of highly successful games, particularly on mobile platforms. Scopely’s portfolio of beloved free-to-play franchises includes “Star TrekTM Fleet Command,” “Stumble Guys,” “YahtzeeⓇ With Buddies,” and many more. The company launched its newest game in April 2023, “MONOPOLY GO!,” which quickly became the most downloaded game worldwide and was the biggest casual mobile game launch of the last five years in the west.
Scopely joins Savvy as an autonomous business unit under the Savvy umbrella. Scopely will benefit from Savvy’s long-term investment to deliver on its strategy to grow and deepen existing franchises, unlock new player audiences, and work with the best talent and studios across the industry through strategic partnerships and acquisitions. This acquisition will additionally allow Scopely to build on its cross-platform approach to extend its live services expertise to new segments like PC, console, and other genres of gameplay. The acquisition also brings Scopely’s development capabilities, publishing infrastructure, and differentiated proprietary technology platform to the Savvy ecosystem, along with a global footprint of talented gamemakers.
Brian Ward, CEO of Savvy Games Group, said:
“This is the largest investment Savvy has made to-date, which is testament to our deep belief in Scopely’s mission and their talented, global team led by Walter and Javier. The recent success of their newest game ‘MONOPOLY GO!’ is indicative of Scopely’s ongoing position at the forefront of the global games sector, underpinned by their ability to reach diverse audiences through compelling player experiences. With the support of Savvy’s long-term investment, Scopely will continue driving innovation in the games sector for decades to come.”
Scopely co-CEO Walter Driver, said:
“For more than a decade, our incredible Scopely team has been dedicated to expanding the possibilities of play. By combining our expertise and resources with Savvy Games Group, we will build an even brighter future for the games industry. Our shared commitment to excellence will enable us to deliver on our ambitious vision to bring immersive, highly engaging games to players around the world, across every device. This is just the beginning.”
Scopely co-CEO Javier Ferreira, said:
“As part of the Savvy Games Group portfolio, we will be able to harness the collective power of our creativity, dedication to innovation, and world-class talent to shape the future of games. Together with Brian and the Savvy team, we will continue to build one of the world’s most diversified mobile-first games companies. Community and connection is at the heart of everything we do, and we look forward to delivering long-lasting franchises that delight players everywhere.”
This acquisition further supports Savvy’s strategy to drive the sustainable growth and development of the global games and esports ecosystem. Through its investments, Savvy enables partner companies to focus on delivering exceptional experiences and live services for their player communities, while creating opportunities for participation and progression across the games community.
J.P. Morgan acted as lead financial advisor to Savvy on this transaction. Bank of America and Aream also acted as financial advisors to Savvy, and Latham and Watkins acted as legal advisor.
Goldman Sachs & Co. LLC acted as financial advisor, Skadden, Arps, Slate, Meagher & Flom LLP acted as transaction counsel, and Goodwin Procter LLP acted as corporate counsel to Scopely.