Saudi Savvy Games Group acquires mobile games company Scopely for $4.9 billion

Savvy Games Group, a games and esports company that is part of the Saudi government’s Public Investment Fund, has agreed to acquire mobile games studio Scopely for $4.9 billion. Founded in 2011, Scopely is known for several popular mobile games, including Yahtzee With Buddies, Star Trek Fleet Command, Marvel Strike Force, Stumble Guys, and Scrabble Go.

The Los Angeles-based company had a post-money valuation of $3.3 billion in 2020 after raising a $340 million round of funding. Scopely has grown in recent years with a number of notable acquisitions. In 2020, Scopely acquired Disney’s FoxNext Games and in 2021, the company acquired GSN Games from Sony Pictures Entertainment for $1 billion.

“Scopely is one of the fastest growing games companies today and we have long admired their ability to build loyal, engaged player communities,” said Savvy Games Group CEO Brian Ward in a press release. “At Savvy Games Group, our mission is to invest in – and grow – the global games community by inviting the brightest minds to join us.”

Scopely will operate as an “autonomous company” under the Savvy umbrella, which includes esports companies ESL and Faceit. The company will continue to be led by co-CEOs Walter Driver and Javier Ferreira.

“As part of the Savvy Games Group portfolio, we will continue to build one of the world’s most diversified mobile-first games companies,” said Scopely co-CEO Javier Ferreira in a press release. Our technology platform, market-leading studio ecosystem and world-class team have always enabled us to stay one step ahead of the fast-growing gaming industry, delivering long-lasting franchises that delight players around the world. We look forward to working with Brian and the Savvy team to reinvent the future of the game.”

Savvy says the acquisition, which is subject to regulatory approval, will strengthen its ability to deliver new products for the global gaming community. The company also says the acquisition will also build on Scopely’s cross-platform approach to expand its live services expertise into new segments such as PC, console and more.

Earlier this week, Bloomberg reported that the Saudi Arabian government is committing $38 billion to becoming the next hub for the video game industry, and that Savvy wants to develop and acquire top games.