Savvy Games, a subsidiary of Saudi Arabia's Public Investment Fund (PIF), has made headlines by acquiring game developer Scopely for an impressive $4.9 billion. This acquisition ranks among the largest in the history of the gaming industry.

The deal is surpassed only by Activision's purchase of King, Microsoft's acquisition of ZeniMax, Tencent's buyout of Supercell, and Take-Two's acquisition of Zynga. Microsoft's ongoing efforts to buy Activision Blizzard for $68.7 billion are also poised to break records.

Scopely Acquired by Savvy Games: Everything We Know

The PIF has been investing heavily in the gaming sector. Savvy Games holds minority ownership positions in companies like  Capcom, EA, and Take-Two. It's the  largest outside investor in Nintendo as well, owning more than 8% of the company.

In an official statement, Savvy Games emphasized that the acquisition would aid in producing more innovative products. Scopely has a proven track record of creating games within successful franchises such as Star Trek, The Walking Dead, and Marvel. The company is also behind the popular Stumble Guys, a battle royale game similar to Mediatonic's Fall Guys.

Founded in 2011, Scopely quickly grew rapidly with expanding locations. The company ranked #9 on Inc.'s list of the 5000 Fastest Growing Companies in America at the time and ranked #1 for the US. By 2019, it had surpassed $1 billion in lifetime revenue.

Scopely has released titles lke Marvel Strike Force and Star Trek Fleet Command, both massively popular mobile games. The brand has also created games for brands like Looney Tunes, WWE, The Walking Dead, and Yahtzee.

Scopely Acquired by Savvy Games: What's Next?

Following regulatory approval, Scopely will maintain its independence under the Savvy banner. There are, however, plans to expand into the PC and console markets while continuing to develop mobile games. Walter Driver and Javier Ferreira, Scopely's co-CEOs, will stay at the helm of the company.

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