Niantic, the developer behind the wildly popular augmented reality game Pokémon Go, is reportedly in discussions to sell its video game division to Scopely, a company owned by Saudi Arabia's Savvy Games Group, for a staggering $3.5 billion. According to Bloomberg, the deal would encompass Pokémon Go, which has captivated millions of players worldwide by encouraging them to explore their surroundings to catch Pokémon.
An anonymous source cited by Bloomberg indicated that although the agreement is not finalized, it could be officially announced within weeks if all parties give their approval. Niantic, Scopely, and Savvy Games Group have chosen not to comment publicly on the potential acquisition.
This move comes on the heels of Savvy Games Group's acquisition of Scopely in April 2023 for $4.9 billion, following the Saudi Arabian government's declaration of intent to purchase "a leading games publisher." Scopely is known for its portfolio of successful mobile games, including The Walking Dead: Road to Survival, Stumble Guys, Marvel Strike Force, and Monopoly Go.
Savvy Games Group has been actively expanding its influence in the gaming industry, having previously acquired two of the largest esports companies, ESL and FACEIT, for $1.5 billion in 2022. Saudi Crown Prince Mohammed bin Salman bin Abdulaziz has articulated a vision to transform Saudi Arabia into a global hub for the games and esports sector by 2030.
"Savvy Games Group is one part of our ambitious strategy aiming to make Saudi Arabia the ultimate global hub for the games and esports sector by 2030," the Crown Prince stated. He emphasized the goal of leveraging the untapped potential within the esports and games industry to diversify the economy, foster innovation, and expand entertainment and esports competition offerings throughout the Kingdom.
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