In a landmark move for the global gaming industry, Scopely, a company under the umbrella of Saudi Arabia’s Public Investment Fund (PIF)-owned Savvy Games Group, has announced its acquisition of a majority stake in Turkish mobile game developer Loom Games. The deal values the Istanbul-based studio at over $1 billion, marking one of the largest acquisitions in the digital games sector this year.
This acquisition underscores Saudi Arabia’s aggressive strategy to diversify its economy and establish a formidable presence in the multi-billion dollar global gaming market. The investment is a key part of the Kingdom’s vision to back high-growth technology and creative companies worldwide.
A Strategic Play for Global Gaming Dominance
The deal is a significant step in Scopely’s mission to build a world-class gaming ecosystem. By integrating Loom Games, Scopely not only expands its portfolio of popular titles but also strengthens its footprint across Europe, the Middle East, and Africa (EMEA). For Saudi Arabia’s Savvy Games Group, this investment accelerates its goal of becoming a leading global hub for gaming and esports, attracting talent and innovative companies into its orbit.
The move is expected to catalyze further investment in the regional gaming scene, opening new avenues for developers from outside traditional tech hubs to achieve global scale with the backing of major Saudi investment vehicles.
Creating a Turkish Gaming Unicorn
While specific financial terms were not disclosed, Scopely confirmed that the transaction places Loom Games‘ valuation above the coveted $1 billion mark, officially elevating it to “unicorn” status. This milestone is a major victory for the burgeoning Turkish gaming ecosystem, highlighting its capacity to produce globally competitive studios.
The acquisition provides Scopely with control over a proven hit-maker, positioning it to capitalize on Loom’s existing and future intellectual property.
The Powerhouse Behind Pixel Flow!
Loom Games is best known for its breakout hit, “Pixel Flow!”, a mobile game that has captured a massive global audience with over 10 million players. The title’s success was so significant that it broke into the top-grossing mobile games charts in the lucrative United States market, demonstrating the studio’s ability to create engaging and commercially successful content.
Balancing Acquisition with Creative Autonomy
A key aspect of the deal is the commitment to maintaining Loom Games’ creative independence. The studio’s founders will continue to lead the team and its development pipeline, benefiting from Scopely’s vast resources and global distribution network without compromising their decision-making freedom. This model allows the studio to focus on innovation while leveraging the strategic support of a global gaming leader.
About Scopely
Scopely is a global interactive entertainment company and mobile-first video game publisher and developer. The company is known for creating and publishing a diverse portfolio of immersive, free-to-play games, including titles like “MONOPOLY GO!”, “Stumble Guys”, “Star Trek™ Fleet Command”, and “MARVEL Strike Force”. Acquired by Savvy Games Group in 2023, Scopely continues to expand its global reach and build a leading position in the games industry.
Source: Jawlah
