Scopely has announced that they have reached an agreement to acquire GSN Games, a division of Sony Pictures Entertainment’s (SPE) the Game Show Network LLC (GSN) for $1 billion.
This acquisition follows Scopely’s last October acquisition of LA-based FoxNext Games from Disney who are the makers of Marvel Strike Force. Disney acquired FoxNext Games as part of its acquisition of Fox back in March 2019.
Who is Scopely? Scopely is a privately held mobile-first video game company known for free-to-play mobile games such as “Solitaire TriPeaks” and “Bingo Bash,” among others such as Wheel of Fortune: Free Play, The Walking Dead: Road to Survival, and Star Trek: Fleet Command, which it also recently launched on PC.
Why GSN Games? GSN Games has a great portfolio of mobile games inclusive of both successful casual and core games. from social player vs player (PVP) to mid-core role-playing games (RPG) to massively multiplayer online (MMO) strategy.
Launched back in 2007, the games of GSN Games will join the list of Scopely’s portfolio of games.
Sony launched the GSN Games network back in 2007 as an offshoot of the GSN
GSN Games is a subsidiary of SPE’s GSN and has approximately 400 employees globally.
Mark Feldman, who will continue to oversee the GSN Games business at Scopely conditioned on the deal’s closure.
“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.”
Said Mark Feldman, Chief Executive Officer of GSN
“the GSN Games organization is an exceptional team, and we are excited to see what more we can accomplish together. We hope to take what is already a strong business and accelerate it through our publishing and technology infrastructure, unlocking even more value. 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. We look forward to a great future together.”
Said Tim O’Brien, Chief Revenue Officer of Scopely
What is in the deal? What’s Next? The deal sees Scopely acquiring GSN Games for a price of over $1 billion, half of which is cash and the remainder being preferred equity in Scopely, giving SPE the opportunity to hold a minority interest in Scopely.
With a reported valuation of $5.4 million according to sources close to the company, Scopely is on its way to becoming a mobile gaming behemoth.
The transaction will await approval from regulators before being completed.
What are your thoughts on this acquisition by Scopely? Share them in the comments.
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