Savvy Games Group, an investing firm established by Saudi Arabia’s sovereign wealth fund, continues its global expansion. The company plans to further partner with Japanese publishers on its way to building a game development hub in the Middle East.
According to Nikkei Asia, Savvy Games Group vice chair Prince Faisal bin Bandar bin Sultan Al Saud met with representatives of Japanese games industry during his recent visit to Tokyo. He invited companies such as Nintendo, Capcom, Bandai Namco, and Konami to establish a presence in the Middle East by opening their local offices.
“One of the main areas is how do we collaborate on localization products, and help Japanese intellectual properties grow in a region that right now is underserved because very little is localized,” Faisal bin Bandar said.
This is part of Savvy Games Group’s plans to establish a global gaming hub in Saudi Arabia, with the Prince saying that “game development is our long-term goal.” The company wants not only to localize games, but to hire and train young engineers to create domestic titles.
CEO Brian Ward told Nikkei Asia that the country’s Public Investment Fund (PIF) plans to allocate shares it owns in foreign game companies to Savvy Games Group to collaborate with Japanese publishers in a “more meaningful way.”
PIF currently controls 8% of Nintendo and 6% of Capcom shares. The fund also has stakes in many other game companies across the globe, including NCSoft, Electronic Arts, Take-Two, Nexon, and Embracer Group.
Overall, PIF committed nearly $38 billion to various investments in games industry. Savvy Games Group has been spending this money on both equity deals and major acquisitions like last year’s $4.9 billion purchase of Monopoly Go! developer Scopely.
According to Ward, 75% of the $38 billion has yet to be spend, so we should expect more deals from Savvy Games Group in the future. The company plans to acquire “genre-leading titles” and strengthen its esports portfolio.