Pokémon Go maker to sell games to Saudi-owned company for $3.5bn
by Reuters from Technology | The Guardian on (#6VWC2)
After failing to recreate success of augmented reality game, Niantic Labs plans to sell its video game division to Scopely
Niantic Labs said it would sell its video game division to Saudi Arabia-owned Scopely for $3.5bn, as the US augmented reality firm shifts focus to geospatial technology after failing to recreate the success of its 2016 smash hit Pokemon Go.
The deal, announced on Wednesday, also advances Saudi Arabia's ambitions to become the ultimate global hub" for gaming. The kingdom's sovereign wealth fund, via Savvy Games, bought Scopely for $4.9bn in 2023 as part of a broader push by the country to diversify beyond fossil fuels.
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