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Savvy Games Group closes acquisition of Scopely

Savvy Games Group, a subsidiary of Saudi Arabia's Public Investment Fund, has completed its acquisition of mobile developer Scopely for $4.9 billion. The deal was announced in April and has now received the necessary regulatory approvals. Scopely will continue to operate as an autonomous business unit under Savvy's umbrella, using the investment to grow existing franchises, target new audiences, form partnerships, and potentially make its own acquisitions.

The acquisition will enable Scopely to expand its expertise in cross-platform development and live service to include PC and console games and explore new genres. Scopely's success has been fueled by its games based on popular IPs such as Star Trek: Fleet Command and Marvel Strike Force. Its recent release, Monopoly GO!, achieved significant success, becoming the biggest casual game launch in the past five years.

Scopely's co-CEOs, Walter Driver and Javier Ferreira, expressed their excitement about the acquisition, believing that joining forces with Savvy will allow them to shape the future of the gaming industry and create long-lasting franchises for players worldwide.

Savvy Games Group CEO Brian Ward sees the acquisition as a major investment, demonstrating the company's strong belief in Scopely's mission and talent. He praised Scopely's ability to reach diverse audiences and create compelling player experiences, stating that the long-term investment will support Scopely's continued innovation in the games sector for many years to come.

Source: Lewis Rees, Staff Writer at PocketGamer

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