Saudi Arabia’s Public Investment Fund (PIF)-owned Savvy Gaming Group has agreed to purchase mobile games studio Scopely for $4.9bn, with plans to strengthen the company’s global gaming and e-sports position. Scopely, founded in 2011, is known for popular mobile games including Yahtzee With Buddies, Star Trek Fleet Command, Marvel Strike Force, Stumble Guys, and Scrabble Go.
Savvy said Scopely will continue to operate as an autonomous company and benefit from its patient financial backing. The acquisition is subject to regulatory approval. Savvy’s investment strategy includes four programs with specific objectives, including a $50bn acquisition and development program to become a strategic development partner.