<p>Savvy Games Group, wholly owned by Saudi Arabia's Public Investment Fund (PIF), has agreed to acquire Scopely, a maker of mobile games based in Culver City, California, for $4.9 billion, the companies said on Wednesday.</p>

<p>Scopely, founded in 2011, will become an autonomous operation under the Savvy umbrella, they said in a statement, noting the deal will "strengthen Savvy's global position" and enable Scopely to accelerate growth.</p>

<p>Last year, state news agency SPA said Savvy would invest 142 billion riyals ($37.85 billion) in initiatives aimed at making the kingdom a global hub for gaming.</p>

<p>In February, Savvy bought a $265 million stake in the Chinese E-sports company VSPO backed by Tencent Holdings Ltd.</p>

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Savvy Games Group, wholly owned by Saudi Arabia's Public Investment Fund (PIF), has agreed to acquire Scopely, a maker of mobile games based in Culver City, California, for $4.

Savvy Games Group, wholly owned by Saudi Arabia's Public Investment Fund (PIF), has agreed to acquire Scopely, a maker of mobile games based in Culver City, California, for $4.9 billion, the companies said on Wednesday. Scopely, founded in 2011, will become an autonomous operation under the Savvy umbrella, they said in a statement, noting the deal will "strengthen Savvy's global position" and enable Scopely to accelerate growth. Last year, state news agency SPA said Savvy would invest 142 billion riyals ($37.85 billion) in initiatives aimed at making the kingdom a global hub for gaming. In February, Savvy bought a $265 million stake in the Chinese E-sports company VSPO backed by Tencent Holdings Ltd. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Savvy Games to acquire gaming company Scopely for $4.9 billion

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Savvy Games to acquire gaming company Scopely for $4.9 billion