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Arabian Business
31-03-2025
- Business
- Arabian Business
Saudi Arabia's Scopely buys Pokémon Go-maker Niantic Labs for $3.5bn
A Saudi-owned gaming giant has bought the maker of Pokémon Go and other popular games for $3.5bn. Scopely, backed by Saudi Arabia's Savvy Games, has acquired Niamtic Labs in a deal worth $3.5bn. The deal for the leading mobile games company in the US is the latest blockbuster gaming investment by the Kingdom. Saudi Arabia buys Pokémon Go It will bring Niantic's catalogue of games, including Pokémon Go, Pikmin Bloom and Monster Hunter Now into Scopely's portfolio. The purchase of the makers of one of the biggest gaming hits of the past ten years will advance Saudi Arabia's ambitions to become the ultimate global hub for gaming. Saudi-backed Savvy Games snapped up Scopely for a reported $4.9bn in 2023 and the latest acquisition strengthens its portfolio. As one of the most successful mobile games of all time, Pokémon GO continues its success today. The game reaches players in over 190 countries and regions. The franchise has amassed more than $8bn in lifetime revenue. By enabling Scopely to acquire Niantic's games business, Savvy is accelerating its strategy to become a global cross-platform, multi-franchise, live services leader, driving the long-term growth of the global games and esports industry. Brian Ward, CEO, Savvy, said: 'This acquisition is another example of how Savvy is supporting Scopely in accelerating its goals, underlining Scopely's position as one of the most influential players in games today. 'The games, apps, and live experiences the team are set to bring on board are an excellent fit for Scopely, further diversifying their already well-developed slate. Niantic's 'Pokémon GO' and Scopely's 'MONOPOLY GO!' achieved two of the biggest mobile launches of the last decade, and it's exciting that two of the top 10 mobile franchises in the world will now be within the Scopely portfolio. 'Scopely is a highly respected custodian of much-loved IP, and will bring a wealth of experience to the Niantic games business.' Tim O'Brien, Chief Revenue Officer and Board Member, Scopely, said: 'Savvy enables us to go after our long-term big ambitions, like transformative M&A, by providing ongoing support to pursue transactions of this magnitude. 'This transaction represents one of the largest games deals made by a private company in the last decade, ranking alongside Scopely's own acquisition by Savvy in 2023 for $4.9bn. 'Scopely has done many acquisitions in its 13-year history, representing billions of dollars-worth of deals – from world-class games studios to groundbreaking games – and we look forward to formally welcoming the Niantic games teams to the Scopely ecosystem.'
Gulf Insider
14-03-2025
- Business
- Gulf Insider
‘Pokémon Go' Games Unit Sold to Saudi Group for $3.5 Billion
Saudi sovereign wealth fund-backed Scopely Inc. has agreed to buy Niantic Inc.'s gaming business, including the mobile hit Pokémon Go, for $3.5 billion. Scopely, which is owned by a unit of the Public Investment Fund of Saudi Arabia, will also acquire Pikmin Bloom and Monster Hunter Now from Niantic, along with the teams working on them, the Saudi company said in a statement on Wednesday, confirming an earlier Bloomberg News report. Niantic's games encourage players to go outside and explore their neighborhoods to receive in-game rewards. The Niantic games business generated more than $1 billion in revenue from 30 million monthly active users last year, Scopely said. Beyond the runaway success of Pokémon Go, many of Niantic's other games have struggled to gain traction or have shut down entirely. Scopely will not acquire Niantic's mapping technology business, which the company's Chief Executive Officer John Hanke will helm under the new name, Niantic Spatial. Using players' data, the company said in a press release, it will build mapping technology that 'captures the content of the world at a level of fidelity never before achieved' with applications in manufacturing, education, warehousing, logistics, tourism and more. Niantic Spatial is funded with $200 million from Niantic and $50 million from Scopely. Niantic's augmented-reality games, including Ingress Prime and Peridot, will stay with Niantic Spatial. Niantic was spun out of Alphabet Inc.'s Google in 2015. Hanke worked in satellite mapping before leading Google's Geo product division. Savvy Games Group, a subsidiary of Saudi Arabia's PIF, bought mobile gamemaker Scopely for $4.9 billion two years ago. Savvy was launched with $38 billion of funding to help transform Saudi Arabia into a video-games hub. Also read: Kuwait Bans New 'Call Of Duty' Game Featuring Saddam Hussein Source Gulf News
CairoScene
13-03-2025
- Business
- CairoScene
Saudi's Scopely Acquires Pokémon GO Creator's Game Division for $3.5B
The deal transfers Pokémon GO, Pikmin Bloom, and Monster Hunter Now to Scopely, as Niantic pivots to geospatial AI technology. Mar 13, 2025 Niantic, the company behind Pokémon GO, has sold its gaming division to Saudi-owned Scopely in a $3.5 billion transaction. The deal includes Pokémon GO, Pikmin Bloom, Monster Hunter Now, and supporting platforms such as Campfire and Wayfarer. As part of the agreement, Niantic will distribute an additional $350 million to its equity holders, bringing the total deal value to $3.85 billion. Following the sale, Niantic will transition into geospatial AI technology under a new company, Niantic Spatial, led by founder and CEO John Hanke. The newly formed entity will receive $250 million in funding, with $200 million from Niantic's balance sheet and $50 million from Scopely. Existing Niantic investors will remain shareholders in Niantic Spatial. Scopely, a mobile gaming company acquired by Saudi Arabia's Savvy Games Group in 2023 for $4.9 billion, has committed to integrating Niantic's game development teams. Pokémon GO, which still boasts over 20 million weekly active players, will continue operating under Scopely's management. The deal follows Niantic's struggles to replicate Pokémon GO's success, leading to layoffs in 2022 and 2023 and the shutdown of projects like Harry Potter: Wizards Unite. Meanwhile, Saudi Arabia continues to expand its gaming investments, with its Public Investment Fund (PIF) allocating nearly $38 billion to gaming-related initiatives. Through Savvy Games Group, the PIF has acquired stakes in Nintendo and other major gaming firms, positioning Saudi Arabia as a growing force in the global gaming industry.
Euronews
13-03-2025
- Business
- Euronews
Saudi Arabia's sovereign wealth fund to buy Pokémon Go
Saudi Arabia's sovereign wealth fund will purchase Pokémon Go as part of a major mobile game company acquisition. ADVERTISEMENT The Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, is set to pay $3.5 billion (€3.2 billion) to buy the gaming division of Niantic. The San Francisco-based software development company is best known for its mobile games Pokémon Go and Monster Hunter Now. Pokémon Go is one of the world's most popular mobile games. Launched in 2016, the augmented reality game was developed in collaboration with The Pokémon Company and Nintendo. Its usership peaked at 232 million active monthly players in 2016 and is currently at around 30 million monthly players. 'I won't say that Pokémon Go will remain the same, because it has always been a work in progress,' said Ed Wu, who leads the Pokémon Go team. 'But how we create and evolve it will remain unchanged, and I hope that we can make the experience even better.' PIF is the one of the largest sovereign wealth funds in the world with assets estimated to be worth nearly $1 trillion. Established by King Faisal bin Abdulaziz Al Saud in 1971, the PIF is used by Saudi Arabia to finance companies in the country, as well as invest in foreign ventures. Major recent investments by the PIF include Premier League football club Newcastle United as well as the creation of LIV Golf, intended to compete with the PGA Tour. With the purchase of Niantic, the PIF continues its expansion into the esports industry. PIF already owns Scopely through its Savvy Games Group company. After the $4.9 billion (€4.5 billion) acquisition in 2023, Scopely – which is known for Monopoly Go – will add Niantic to its portfolio. 'I firmly believe this partnership is great for our players and is the best way to ensure that our games have the long-term support and investment needed to be 'forever games' that will endure for future generations,' said Niantic CEO John Hanke. Financially, PIF also has interests in multiple games companies, including Nintendo, Electronic Arts, and Take-Two Interactive. Last summer, Riyadh played host to the 2024 Esports World Cup. It replaced Saudi Esports Federation's Gamers8 esports festival and included the largest prize pool in esports history at $60 million (€55.2 million). Around the same time, Saudi Arabia was announced as the host of the inaugural Olympic Esports Games in 2027, run by the International Olympic Committee. Alongside its successful bid to host the 2034 Men's FIFA World Cup and the 2035 Women's FIFA World Cup, Saudi Arabia has made its interest in international sports and esports clear. This tactic has been criticised as sportswashing. Sportswashing is when companies, countries or individuals use sports as a propaganda tool to distract from negative narratives. In Saudi Arabia's case, the PIF's investments into sports companies and hosting international events has been accused as a means of diverting attention from accusations of human rights abuses. A report by the Human Rights Watch accused Saudi Arabia of using these tournaments to avoid criticisms – which they deny. The criticisms range from human rights abuses to the treatment of the LGBTQ+ community and 'mass killings of migrants along the Saudi border with Yemen.'
Los Angeles Times
12-03-2025
- Business
- Los Angeles Times
‘Pokémon Go' sells to Culver City-based Scopely in $3.5 billion deal
Scopely, a Culver City-based mobile game developer and publisher, will acquire the games portfolio of developer Niantic, including 'Pokémon Go,' 'Pikmin Bloom' and 'Monster Hunter Now,' in a deal valued at $3.5 billion, the companies said Wednesday. Niantic's games generated $1 billion in revenue in 2024, and 'Pokémon Go' has remained a top 10 mobile game since its launch in 2016, according to Scopely. Players — also called trainers, who capture and battle monsters by walking around in the real world with a digital overlay, called augmented reality — have logged 30 billion miles in the app. The game, a sensation when it debuted, counts 20 million weekly active players. Last month, over 253,000 people in Los Angeles and Orange counties attended a virtual 'Pokémon Go' event, nearly ten years after its release. People playing mobile games spent $82 billion on in-app purchases globally in 2024, according to a report from Sensor Tower, an increase of 4% from 2023. While less people are downloading gaming apps, the report said, they're spending more time and money on them. 'We look forward to further accelerating the team's creativity through our partnership,' Scopely chief revenue officer Tim O'Brien said in a statement. 'Few games in the world have delivered the scale and longevity of 'Pokémon GO.'' The development team working on 'Pokémon Go,' led by Ed Wu, is staying together under Scopely, according to a Wednesday blog post. Wu said the new ownership would be a positive step for the game, which he called his 'life's work.' Other games acquired by Scopely include 'Campfire' and 'Wayfarer.' Scopely already has 'Monopoly Go,' 'Marvel Strike Force' and others in its portfolio. 'Niantic games have always been a bridge to connect people and inspire exploration, and I am confident they will continue to do both as part of Scopely,' John Hanke, founder and chief executive of Niantic, said in the Wednesday release. San Francisco-based Niantic will retain its technology and spin it into a new company called Niantic Spatial Inc., according to a release on its website, which will help machines learn to interact with the real world using artificial intelligence. The company will keep its other games that use the augmented reality tech, 'Ingress Prime' and 'Peridot.'
