Public Investment Fund, Riyadh, Saudi Arabia, has bought popular mobile gaming app Pokemon Go via its subsidiary Scopely, in a deal valued at $3.5 billion.
Scopely said in a blog on its website that it is to purchase the gaming division of Niantic, which is the creator of Pokemon Go, an app that became a viral sensation upon its launch in 2016. The game, which involves traveling to real world locations to capture, train and fight virtually imposed Pokemon creatures, has also spawned events such as the Pokemon Go Fest, hosted in cities including New York and Osaka, Japan.
Saudi PIF has an estimated $925 billion in assets and previously committed to investing $38 billion into the video games industry as part of its Vision 2030 initiative, according to Bloomberg.
The acquisition of Niantic will incorporate the business’ entire game development teams into Scopely, as well as a game portfolio including Pokemon Go and further titles such as Pikmin Bloom and Monster Hunter Now.
The Niantic games business has over 30 million monthly active players and generated more than $1 billion in revenue in 2024. Last year, Pokemon Go had more than 100 million unique players. Niantic's games are known for inspiring walking to destinations while playing, and last year players took a combined 3.94 trillion steps while using one of its apps.
The sovereign wealth fund also owns ventures in the sporting world, such as the Saudi International golf tournament, and the English soccer team Newcastle United.
