Tag

Savvy Games Group

All articles tagged with #savvy games group

gaming2 years ago•2 min saved

Gaming Acquisitions and Mergers Set to Rise in 2024

Investment firm Drake Star predicts that video game acquisitions and buyouts will continue in 2024, with major players like Tencent, Sony Interactive Entertainment, Take-Two Interactive, and Savvy Games Group expected to make significant investments. While Sony's operating income has been affected by previous acquisitions, Tencent has a stable gaming empire and prefers buying parts of companies rather than whole acquisitions. Savvy Games Group, funded by the Saudi Arabian wealth fund, is also expected to expand through buyouts. Take-Two Interactive, with its diverse portfolio of divisions and publishing labels, may be less likely to make further acquisitions given its current slate of upcoming games.

via TweakTown|

#gaming #savvy-games-group #sony-interactive-entertainment

business2 years ago•1 min saved

"Revealed: Saudi-backed Savvy Games Behind Embracer Group's $2 Billion Deal Collapse"

Saudi government-funded Savvy Games Group has been identified as the mystery party that pulled out of a $2 billion partnership with Embracer Group. The deal, which would have included over $2 billion in contracted development revenue over a six-year period, collapsed following seven months of negotiations. Savvy Games Group had previously acquired an 8.1 percent stake in Embracer for $1 billion. The company was established using the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, and has made significant investments in the gaming industry.

via Video Games Chronicle|

#business #embracer-group #gaming-industry

business2 years ago•1 min saved

Embracer Group's $2 Billion Deal with Saudi-backed Savvy Games Ends in Failure

Embracer Group's failed $2 billion deal, which caused its stock to plummet, was with Savvy Games Group, backed by the Saudi Arabia Public Investment Fund (PIF) led by crown prince Mohammed bin Salman. The deal, which had been negotiated for seven months, would have set a new benchmark for the gaming industry. It is unclear why Savvy Games Group backed out of the agreement, but Embracer had previously received a $1 billion investment from the Public Investment Fund. The involvement of Saudi Arabia in the gaming industry has drawn criticism due to the country's human rights abuses.

via Kotaku|

#business #embracer-group #gaming-industry

gaming2 years ago•2 min saved

Savvy Games Group acquires Scopely for $4.9B in major gaming acquisition.

Savvy Games Group, a games and esports company owned by the Saudi government’s Public Investment Fund, has agreed to acquire mobile games studio Scopely for $4.9 billion. Scopely will operate as an “autonomous company” under the Savvy umbrella, and will continue to be led by co-CEOs Walter Driver and Javier Ferreira. The acquisition will strengthen Savvy's ability to deliver new products for the global gaming community and build on Scopely’s cross-platform approach to extend its live services expertise to new segments like PC, console and more.

via TechCrunch|

#acquisition #gaming #mobile-games

business2 years ago•4 min saved

Savvy Games Group acquires Scopely for $4.9B, Saudi Arabia invests billions in gaming industry.

Savvy Games Group, owned by Saudi Arabia's Public Investment Fund, has agreed to acquire mobile game publisher and developer Scopely for $4.9 billion. The acquisition strengthens Savvy's ability to deliver new products for the global gaming community and helps fulfill Scopely's ambitions to grow and strengthen its portfolio of original and beloved brands. Scopely will remain an autonomous operating company under the Savvy umbrella, and the acquisition builds on Scopely's cross-platform approach to extend its live services expertise to new segments like PC, console, and other platforms.

via VentureBeat|

#acquisition #business #consolidation

business2 years ago•2 min saved

Savvy Games Group Acquires Scopely for Record-Breaking $4.9 Billion

Savvy Games Group, owned by Saudi Arabia's Public Investment Fund, has agreed to acquire mobile game maker Scopely for $4.9 billion. Scopely will operate as an autonomous company under the Savvy umbrella, joining other companies in its portfolio such as esports brand ESL FaceIt Group. The acquisition is subject to regulatory approval. Scopely's co-CEOs will continue to lead the company.

via Variety|

#acquisition #business #esports