Last Updated: April 06, 2023, 02:15 IST
Scopely, based in 2011, will change into an autonomous operation underneath the Savvy umbrella. (Image: Scopely Twitter)
Scopely, based in 2011, will change into an autonomous operation underneath the Savvy umbrella
Savvy Games Group, wholly owned by Saudi Arabia’s Public Investment Fund (PIF), has agreed to accumulate Scopely, a maker of cellular video games based mostly in Culver City, California, for $4.9 billion, the businesses stated on Wednesday.
Scopely, based in 2011, will change into an autonomous operation underneath 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 news company SPA stated Savvy would make investments 142 billion riyals ($37.85 billion) in initiatives geared toward making the dominion a worldwide 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 been edited by News18 employees and is revealed from a syndicated news company feed)
Source web site: www.news18.com
