Saudi-Backed Savvy Group Closes Scopely Deal

Saudi-Backed Savvy Group Closes Scopely Deal

Culver City-based game developer Scopely Inc. has officially been acquired by esports company Savvy Games Group for $4.9 billion.

The deal with Savvy, which is owned by Saudi Arabia’s Public Investment Fund, was originally announced in April. The fund has previously invested in three other U.S.-based video game companies: Electronic Arts Inc., Take-Two Interactive Software Inc. and Santa Monica-based Activision Blizzard Inc. Savvy Chief Executive Brian Ward said that the Scopely deal is its largest investment to date, and that it will support Scopely’s continuing growth in the gaming sector.

Scopely co-CEOs Javier Ferreira and Walter Driver.

“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,” said Scopely co-Chief Executive Javier Ferreira. “Together with Brian and the Savvy team, we will continue to build one of the world’s most diversified mobile-first games companies.”

Scopely was founded in 2011 and has developed and published game franchises such as “Star Trek Fleet Command,” “Stumble Guys,” “Yahtzee with Buddies” and, most recently, “Monopoly Go!”. It will operate as an autonomous business within Savvy’s portfolio. Ferreira and his co-CEO, Walter Driver, will at its helm. Scopely said that following the acquisition it would build its service out to new platforms including PC, console and other gaming systems.

“By combining our expertise and resources with Savvy Games Group, we will build an even brighter future for the games industry,” Driver said. “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.”

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