- PIF-owned Savvy completes its largest investment so far, aligns with Saudi Arabia’s National Gaming and Esports Strategy
- Savvy’s long-term investment to ensure Scopely continues to drive innovation in the games sector, says CEO of Savvy
- Acquisition reflects PIF’s focus on innovation and creating unique opportunities across diverse sectors
PIF-owned games and esports company Savvy Games Group has finalized its acquisition of games publisher and developer Scopely for $4.9 billion.
The acquisition was agreed to in April 2023 and has now been completed, following receipt of the necessary regulatory approvals.
Having launched its latest game in April 2023, “MONOPOLY GO!,” which became the most downloaded game worldwide, Scopely is perhaps best known for its free-to-play franchises, including “Star TrekTM Fleet Command,” “YahtzeeⓇ With Buddies,” and “Stumble Guys,” among others.
Savvy Games Group supports Saudi Arabia’s National Gaming and Esports Strategy, which aims to establish 250 games companies, which will create 39,000 jobs, and raise the sector’s GDP contribution to SAR 50 billion by 2030.
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.”
Walter Driver, Scopely co-CEO, 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.”
The latest acquisition aligns with PIF’s mandate, which is focused on supporting innovation, plus creating unique opportunities that bring long-term returns across diverse sectors.
