Scopely is considering various options to expand its portfolio. The Monopoly Go! developer has plans to make a huge acquisition with the help of its parent company Savvy Games Group.
Monopoly GO!
Speaking at the the Variety Entertainment & Technology Summit last week, Scopely chief revenue officer Tim O’Brien revealed that the company is ready to go on a shopping spree and acquire some game studios.
The mobile developer hopes to announce at least one “megadeal” in 2025. “When I say megadeal, I mean a scaled global franchise doing hopefully at least a billion dollars in revenue,” O’Brien said (via Mobilegamer.biz).
The executive didn’t share any details, but added that Scopely has already smaller private investments. All the deals will be funded by Savvy Games Group, which acquired the Monopoly Go! developer for $4.9 billion last year.
In 2022, Saudi Arabia’s Public Investment Fund, which controls Savvy, committed around $38 billion to various investments in games industry. According to O’Brien, Scopely is now the “tip of the spear” in the use of these funds.
“We’re looking for world class game development talent,” he noted. “We’re looking for evergreen franchises, businesses that are extremely stable and ideally growing and at scale.”
O’Brien added that Scopely and Savvy Games Group are looking to achieve the ultimate goal of becoming “the largest games company in the world.” Capital deployed by Saudi Arabia’s sovereign wealth fund will help the parties implement this strategy.
Monopoly Go! remains the cornerstone of Scopely’s business. The game has already topped $3 billion in global revenue, with O’Brien saying that it is performing better now than it did launch. The the company has also doubled its headcount since the deal with Savvy Games Group closed.