Scopely acquires Sony’s GSN Games, a mobile game subsidiary, for $1 billion. Recently, Sony entered deeper into the mobile gaming world by hiring Apple Arcade boss.
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Sony’s mobile gaming subsidiary, GSN Games, belongs to Game Show Network. The Game Show Network creates various game shows for Sony. Also, it is a subsidiary of Sony Pictures Entertainment.
Ravi Ahuja, chairman of Sony Pictures Entertainment Corporate Development said that GSN had been a great company for Sony from day one. He added that they were thrilled to have found a company like Scopely. Moreover, he said that Scopely would surely accelerate and grow GSN Games’ business.
Furthermore, the purchase price for this transaction is about $1 billion. Scopely will pay half of this amount in cash. The rest of the transaction, as stated in Scopely’s blog post, will be provided to Sony in the form of a minority interest in Scopely.
Scopely’s Business Expansion
This acquisition, according to Scopely, would significantly increase their portfolio. Also, a lot of talented employees from GSN Games will be joining the Scopely ecosystem. GSN Games has about 400 employees all around the world.
Moreover, GSN’s CEO, Mark Feldman, will stay as CEO at GSN Games business at Scopely, even after the acquisition is finalized. Feldman stated that he was very proud of the entire GSN Games team for building their successful game portfolio.
Also, he commented on the pandemic situation, saying that GSN had made huge tech and product improvements in that period. Feldman said that all of this had been done to satisfy GSN Games’ players.
Tim O’Brien, Scopely’s Chief Revenue Officer said that they were excited that Scopely had agreed to acquire GSN Games. He stated that the company is open to more acquisition opportunities.
Furthermore, he added that the acquisitions would bring them strategic assets and good development teams. Therefore, he said, Scopely’s business would expand and grow. O’Brien also commented on GSN Games’ business practices.
He stated that GSN’s business was very durable and that they had an extremely loyal player base. Of course, he said, all of their success was due to the incredible experiences that the GSN team had built.
When it comes to the GSN Games, Scopely stated that the GSN Games studio consisted of exceptional people who made successful free-to-play mobile games such as Solitaire TriPeaks and Bingo Bash.
Solitaire TriPeaks amassed more than 19 million downloads on Google Play and iOS combined. Additionally, on iOS, Solitaire TriPeaks has generated more than $140 million in revenue. (GameRefinery)
Also, according to Scopely’s blog post, Scopely is one of the fastest-growing private mobile game companies today. They backed up their claim by saying that their revenue had tripled in just two years, from 2018 to 2020. Scopely also stated that their game portfolio was one of the most diverse in the industry, with casual, PVP, RPG, MMO strategy, and other games included.