Pokemon Go Developer Niantic Close To Selling Games Business

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According to recent reports by Bloomberg, it appears that Niantic Inc. is nearing an agreement to sell its game division (which includes Pokemon Go) to Scopely Inc., a company backed by Saudi Arabia, for approximately $3.5 billion.

According to Bloomberg, a deal for the sale might be made public within the following weeks, encompassing Niantic’s video game sector as well as its gaming assets. Apart from Pokemon Go, Niantic also produces games such as Ingress, Pikmin Bloom, Monster Hunter Now, and several others.

Although negotiations appear to be nearly complete, it’s not guaranteed that an agreement will actually be finalized.

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Established in 2011, the company known as Scopely was purchased by the gaming division Savvy Games Group in 2023 for a whopping $4.9 billion. This gaming division is a subsidiary that has been financed by Saudi Arabia’s Public Investment Fund.

By August 2024, Niantic had agreed on a partnership with Savvy Games Group, allowing Niantic to assist in the growth strategy of entering Saudi Arabia, Egypt, and the United Arab Emirates.

Through our partnership with Niantic, we’re taking a major step forward in delivering top-tier gaming and eSports adventures to the MENA-3 region, as stated by Savvy Games Group CEO Brian Ward, during that period, through PocketGamer.

Neither Scopely nor Niantic would comment on the potential sale when contacted by Bloomberg.

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2025-02-19 06:17