Niantic Inc., the developer behind the popular mobile game Pokémon Go, is reportedly in discussions to sell its gaming division to Scopely Inc., a mobile game company owned by Saudi Arabia’s Savvy Games Group. The potential deal is valued at approximately $3.5 billion and could be finalized in the coming weeks. This transaction would encompass Pokémon Go and other titles within Niantic’s portfolio.
Founded in 2010 as an internal startup within Google, Niantic gained prominence with the 2016 release of Pokémon Go, an augmented reality game that became a global sensation. Despite its initial success, Niantic has faced challenges replicating this achievement with subsequent projects. In recent years, the company has implemented staff reductions and canceled several titles, including the shutdown of Harry Potter: Wizards Unite in 2022.
Scopely, known for games like Monopoly Go, was acquired by Savvy Games Group in 2023 for $4.9 billion. Savvy Games Group, established in 2021 by Saudi Arabia’s Public Investment Fund, aims to position Saudi Arabia as a global gaming hub by 2030 through strategic investments and acquisitions. The potential acquisition of Niantic’s gaming division aligns with this strategy, marking a significant expansion of Savvy’s presence in the gaming industry.
Representatives from Niantic and Scopely have declined to comment on the ongoing discussions. As the situation develops, stakeholders and players alike are monitoring the potential impact of this acquisition on the future of Pokémon Go and Niantic’s other gaming ventures.
Sources:
https://gamerant.com/pokemon-go-developer-niantic-saudi-arabian-acquisition/
https://tribune.com.pk/story/2529994/pokemon-go-to-sell-to-a-saudi-owned-firm-for-35-billion
