Last Updated: April 06, 2023, 02:15 IST
Scopely, based in 2011, will change into an autonomous operation beneath the Savvy umbrella. (Image: Scopely Twitter)
Scopely, based in 2011, will change into an autonomous operation beneath the Savvy umbrella
Savvy Games Group, wholly owned by Saudi Arabia’s Public Investment Fund (PIF), has agreed to purchase Scopely, a maker of cellular video games primarily based in Culver City, California, for $4.9 billion, the businesses stated on Wednesday.
Scopely, based in 2011, will change into an autonomous operation beneath the Savvy umbrella, they stated in an announcement, noting the deal will “strengthen Savvy’s global position” and allow Scopely to speed up development.
Last 12 months, state information company SPA stated Savvy would make investments 142 billion riyals ($37.85 billion) in initiatives aimed toward making the dominion a world hub for gaming.
In February, Savvy purchased a $265 million stake within the Chinese E-sports firm VSPO backed by Tencent Holdings Ltd.
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(This story has not been edited by News18 workers and is revealed from a syndicated information company feed)
