Pokémon Go Maker Niantic Sells Unit to Saudi Fund for $3.5 Billion

Niantic, the company behind the runaway hit Pokémon Go, said Wednesday that it has agreed to sell its video game business for $3.5 billion to Scopely, a company owned by the Saudi sovereign wealth fund.

Scopely was acquired for $4.9 billion in 2023 by the Savvy Games Group, which was launched a year earlier by the Saudi sovereign wealth fund to lead its push into video games, including e-sports. The Saudi government has said it will invest $38 billion in video games by 2030 through the Public Investment Fund.