Niantic, the company behind the global mobile hit Pokémon Go, has sold its gaming business to Saudi-backed Scopely for a whopping $3.5 billion. This sale includes not only Pokémon Go but also other popular titles like Pikmin Bloom and Monster Hunter Now, along with the teams that developed them.
A Major Deal Backed by Saudi Arabia’s Public Investment Fund
Scopely, which is owned by a unit of Saudi Arabia's Public Investment Fund (PIF), will now take over Niantic’s mobile gaming portfolio. The deal marks a significant shift, as Niantic’s games have generated more than $1 billion in revenuefrom 30 million monthly active users last year alone.
Niantic's Journey and Leadership
Founded in 2015 after being spun out of Alphabet’s Google, Niantic was led by John Hanke, who previously worked in Google’s satellite mapping division and later headed the company’s Geo product division. The company became widely known for its innovative augmented reality games, with Pokémon Go being one of the most iconic and successful mobile games in history.
This move underscores the growing influence of Saudi Arabia’s investment in the tech and gaming sectors, backed by its sovereign wealth fund. As Niantic moves on to new ventures, Scopely is set to continue developing and expanding its newly acquired gaming portfolio.
