Scopely Acquires Niantic Gaming Division for $3.5 Billion

Niantic Inc., the developer behind popular games like Pokémon Go, has officially sold its gaming division to Scopely for $3.5 billion. The acquisition, backed by Saudi Arabia's Public Investment Fund through Scopely's parent company Savvy Games Group, includes Niantic's flagship titles and its team, ensuring continuity in game development. Niantic's lead, Ed Wu, expressed optimism about the partnership, emphasizing Scopely's commitment to maintaining the essence of Pokémon Go and its community. Scopely aims to enhance the development teams' creativity and ensure long-term support for the games, which have seen fluctuating popularity since their peak during the pandemic. This move aligns with Saudi Arabia's strategic investments in the gaming sector, having previously acquired stakes in major gaming companies. Regulatory approval is still pending for the deal.