Shulou(Shulou.com)11/24 Report--

CTOnews.com, April 6 (Xinhua)-- US mobile game developer Scopely has announced that it has been acquired by Saudi Arabian game group Savvy Games Group for $4.9 billion (CTOnews.com Note: currently about 33.712 billion yuan).

Scopely will become an independent operating company under Savvy, joining other complementary game companies such as e-sports brand ESL FaceIt Group, according to an official announcement. Through this partnership, Scopely will benefit from Savvy's ecosystem and its long-term commitment to help the company achieve its ambitious goals.

Scopely has developed mobile games such as Star Trek: elite Commander, Marvel Shenwei team, and Walking Dead: the Road to Survival.

The government of Saudi Arabia plans to invest $38 billion (currently about 261.44 billion yuan) to turn the country into a new hub for the video game industry, Bloomberg reported. This is one of the strategies for the country to diversify its economy away from its dependence on oil.

Saudi sovereign wealth fund PIF, a wealth fund chaired by Crown Prince Mohamed Ben Salman, is reportedly planning to invest $38 billion to build a video game industry hub, and its subsidiary Savvy Gaming Group is the main force in its foray into the gaming industry.

Saudi sovereign wealth funds have invested billions of dollars in a number of well-known gaming companies around the world, including Nintendo, Tencent, Activision Blizzard, Embracer, Capcom and Nexon. The fund has repeatedly increased its stake in Nintendo and now holds 8.26 per cent, making it the company's largest outside shareholder.

Brian Ward, chief executive of Savvy Gaming Group, had previously said they had about $13 billion (currently about 89.44 billion yuan) to buy a game publisher, but he thought EA was too big to be considered.

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