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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Pokémon Go developer Niantic sells video game division to Saudi group Scopely for $3.5 billion
Niantic Labs, the company behind the popular game Pokémon Go, is selling its video game division to Scopely, a mobile game developer owned by Saudi Arabia, for $3.5 billion.
As part of the deal, Niantic is transferring ownership of several of its mobile gaming titles, including Pokémon Go, Monster Hunter Now, and Pikmin Bloom, to Scopely.
Niantic has faced challenges trying to recreate the success of Pokémon Go with its other augmented reality (AR) games.
Niantic announcement
Niantic's games have always brought people together and encouraged exploration, and Niantic CEO John Hanke is confident they will continue to do so as part of Scopely.
Hanke expressed his strong belief that this partnership is beneficial for the players and the best way to ensure the games receive the long-term support and investment required to become «forever games» that will last for future generations.
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The announcement likely refers to the «megadeal» Tim O'Brien of Scopely mentioned last year, involving a major global franchise expected to generate over a billion dollars. While Niantic doesn't disclose earnings, Scopely revealed that Niantic’s gaming business made $1 billion in revenue last year, with Pokémon Go earning $7.9 billion since its 2016 launch.
Also Read: US senator Jeanne Shaheen will not seek re-election in 2026: Here's how it affects the Democrats
What is Scopely?
Scopely is a mobile game development studio responsible for creating several popular mobile games. These games include well-known franchises that are based on intellectual properties (IPs) like Monopoly Go!, Star Trek Fleet Command, and Marvel Strike Force.
Now, Scopely will add Niantic’s collection of games, including the hugely popular Pokémon Go,
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