The deal, announced on Wednesday, also advances Saudi Arabia’s ambitions to become the “ultimate global hub” for gaming. The kingdom’s sovereign wealth fund, via Savvy Games, bought Scopely for $4.9 billion in 2023 as part of a broader push by the country to diversify beyond fossil fuels.
Niantic Spatial will be funded with $250 million of capital - $200 million from Niantic’s balance sheet and $50 million from Scopely. All of Niantic’s original investors will also continue to be shareholders of Niantic Spatial.
For Saudi, already a growing hub for gaming and home to the Esports World Cup, the deal builds on a plan to invest nearly $38 billion in initiatives related to the industry through its Savvy Games Group.
Savvy Games is a major investor in global video-game companies including Nintendo, in which it has a stake of around 7.54% after a small cut in its interest last year.
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