Mobile game publisher Scopely announced an agreement to acquire causal game developer GSN Games, a Sony Pictures Entertainment company, for around $1 billion.
According to the terms of the agreement, half of the offered amount will be cash, while the remaining half will be in preferred equity. The deal will provide Sony Pictures with a minority interest in Scopely. Furthermore, it will allow Sony to benefit from the company’s growth and the mobile games industry.
“We hope to take what is already a strong business and accelerate it through our publishing and technology infrastructure, unlocking even more value,” said Tim O’Brien, chief revenue officer at Scopely. “Through this acquisition, we will continue to cultivate a loyal player base as part of our mission to inspire play, every day. The GSN Games business has proven itself as both incredibly durable and consistently profitable, due to the dynamic experiences the team continues to build for players around the world.”
Ravi Ahuja, Chairman of SPE’s Corporate Development, also commented about the acquisition. “GSN Games has been a great business for Sony the last 14 years, and we are proud of the experiences the team continues to deliver for players around the world. In meeting the Scopely team, we knew we found the right organization to support and accelerate the business. We are confident they will take GSN Games to new heights and SPE is pleased to be a minority shareholder in Scopely as a result of this transaction,” he said.
Mark Feldman, CEO of GSN Games, will continue leading the studio after the deal is closed.
Mark Feldman, CEO of GSN Games, also commented, “I am immensely proud of the entire GSN Games team for building and enhancing our portfolio of games while delivering strong and growing profits. Over the past four years, and in the teeth of a global pandemic, GSN Games has undertaken huge tech and product improvements to deliver on our commitment to providing our players with phenomenal game experiences. I am delighted that GSN Games will now be part of Scopely’s dynamic global mobile games business.”
The acquisition will add complementary games to the Scopely portfolio and bring innovative game developers into the Scopely ecosystem. The GSN Games buyout agreement is part of Scopely’s effective acquisition strategy.
Scopely is behind well-known mobile games such as the Wheel of Fortune: Free Play, Star Trek: Fleet Command, and The Walking Dead: Road to Survival. GSN Games has developed games such as Solitaire TriPeaks, GSN Casino Slots Games, and Bingo Bash.
Send your news at email@example.com