Savvy Group enters into $4.9 bln agreement to acquire Scopely

Logo of Savvy Games Group

Savvy Games Group (Savvy), wholly owned by the Public Investment Fund (PIF), entered into an agreement to acquire Scopely for $4.9 billion.

The acquisition, subject to regulatory approval, strengthens Savvy’s ability to deliver new and exciting products for the global gaming community, the company said in a statement.

Scopely has a proven record of developing and publishing a wide range of games, particularly on mobile platforms, the statement noted, adding that the acquisition brings Scopely’s development capabilities, publishing infrastructure, and differentiated technology to the Savvy ecosystem.

JP Morgan acted as lead financial advisor to Savvy on this transaction; Bank of America and Aream were financial advisors; and Latham and Watkins were legal advisors.

In September 2022, Saudi Arabia’s Crown Prince and Chairman of Savvy Gaming Group, Mohammed bin Salman, announced the group's strategy, Argaam earlier reported.

“Savvy is one part of an ambitious strategy aiming to make Saudi Arabia the ultimate global hub for the games and esports sector by 2030,” the Crown Prince had then said.