PIF-backed Scopely acquires Pokemon GO maker for $3.5bn

RIYADH: Scopely, a US-based firm backed by Saudi Arabia’s Public Investment Fund, has signed a deal worth $3.5 billion to acquire the video game division of Niantic Labs.

In a press statement, Scopely said that the team employed to make games such as Pokemon GO, Monster Hunter Now and Pikmin Bloom are included in the acquisition. 

This takeover aligns with the Kingdom’s ambitions to establish itself as a global gaming destination, with a national strategy aiming to ensure that the sector will contribute $13 billion to gross domestic product by 2030.