Scopely, backed by Saudi Arabia’s sovereign wealth fund, has agreed to acquire Niantic’s gaming business, which includes popular mobile games Pokémon Goworth US$3.5 billion (approximately Rs. 30,465 crore)
Scopely, a subsidiary of Saudi Arabia’s Public Investment Fund, will also acquire pikmin bloom and monster hunter now The project is being delivered by Niantic and its development team, the Saudi company said in a statement on Wednesday, confirming an earlier report by Bloomberg News.
Niantic was spun off from Alphabet-owned Google in 2015. Founder John Hanke worked in satellite mapping before leading Google’s geographic products division. Scopely said Niantic’s gaming business generated revenue of more than $1 billion (approximately Rs. 8,702 crore) last year and had 30 million monthly active users.
Savvy Games Group, a subsidiary of Saudi Arabia’s PIF, acquired mobile games maker Scopely two years ago for $4.9 billion. Savvy, which has a startup capital of $38 billion (roughly Rs. 3,30,701 crore), aims to help transform Saudi Arabia into a video gaming hub.
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