Saudi-funded gaming company, Savvy Games, pursues monumental billion-dollar business ties in China

In a significant move for the gaming industry, Saudi-owned Savvy Games Group has acquired the developer behind the globally popular game, Pokémon Go. This acquisition, made through Savvy's US studio, Scopely, for a whopping $3.5bn, closed in May 2023.

The change in ownership of Pokémon Go has been "completely a non-issue" for most players and staff, according to reports. The acquisition has, however, boosted Savvy Games Group's overall audience of players in China, a key market for the company.

Savvy Games Group, with a war chest of $38bn from the Saudi Public Investment Fund, is aiming to become the world's number one games and esports company. The company, led by CEO Brian Ward, is seeking multibillion-dollar deals in China and other Asian markets.

Ward believes there is a wealth of development talent in China looking for access to international markets. He also sees current geopolitical tensions as an opportunity for deals with Chinese developers. However, the specific names of these potential partners have not been disclosed.

The acquisition of Pokémon Go has helped Savvy Games Group's portfolio, which remains heavily weighted towards western markets, to diversify. The company's other significant acquisition, Scopely, has also helped in this regard. Scopely's acquisition of Monopoly Go, one of the most popular and lucrative mobile games of all time, further strengthens Savvy's position.

Despite the challenges posed by the emergence of artificial intelligence, Savvy Games Group is committed to creating high-tech jobs for young Saudis. However, the strategic goal might face changes as AI continues to evolve.

The acquisition of Scopely and its subsequent acquisition of Pokémon Go have catapulted Savvy Games Group to the number eight spot among the largest games publishers by net revenue. The company's two biggest acquisitions to date have made it the world's second-largest mobile games publisher, behind China's Tencent.

In conclusion, Savvy Games Group's strategic moves and acquisitions demonstrate a clear intent to establish a strong presence in the Asian market, particularly China. The company's focus on talent acquisition and strategic partnerships, coupled with its financial muscle, positions it well for future growth in the global gaming industry.

Saudi-funded gaming company, Savvy Games, pursues monumental billion-dollar business ties in China