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April 5 (UPI) -- A game developer backed by Saudi Arabia is buying California-based Scopely, which is behind popular games such as Scrabble GO, Yahtzee With Buddies, and Star Trek Fleet Command. Saudi-backed Savvy Games is paying $4.9 billion for Los Angeles-based Scopely, which also makes Marvel Strike Force and Stumble Guys.
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Savvy, which is owned by Saudi Arabia's sovereign wealth fund, is adding to recent acquisitions. The country last year said it would dedicate $38 billion in an attempt to become a new international tech hub, with $13 billion of that dedicated to acquiring video game studios.
Scopely raised $340 million from financing in 2020, based on a $3.3 billion market valuation.
It purchased Marvel Strike Force maker FoxNext Games Los Angeles from Disney in 2020.
The following year, it spent $1 billion to acquire GSN Games from Sony Pictures Entertainment.
The company will continue to operate as an "autonomous company" under Savvy, continuing to produce its signature products.
"We will continue to build one of the world's most diversified mobile-first games companies," Scopely co-CEO Javier Ferreira said in a statement.
"Our technology platform, market-leading studio ecosystem, and world-class team have always enabled us to stay one step ahead of the rapidly growing games industry, delivering long-lasting franchises that delight players around the world," Ferreira said.
"Scopely is one of the fastest-growing games companies today, and we have long admired their ability to build loyal, engaged player communities. At Savvy Games Group, our mission is to invest in -- and grow -- the global games community by inviting the best minds to join us," Savvy Games Group CEO Brain Ward said in a release.
"Scopely has proven to be an exceptional leader and will continue to revolutionize the future of games for years to come," he said.
