The gaming division of Niantic developed by Pokémon Go will be acquired by Saudi Arabia’s Public Investment Fund (PIF) through a $3.5 billion transaction. Saudi Arabia continues its gaming industry takeover through this acquisition which represents billions of dollars of recent investments.
Since its 2016 release date Pokémon Go has maintained its position as one of the top mobile games attracting 30 million monthly users. The game combines augmented reality features with real-world exploration elements which continue to make it popular years after its release. The acquisition brings Niantic’s Monster Hunter Now and Pikmin Bloom games and their development team under Scopely Inc as part of the deal.
The mobile gaming company Scopely received a $4.9 billion acquisition from PIF subsidiary Savvy Games Group in 2023. Monopoly Go achieved over 50 million downloads while its revenue reached $3 billion. The Niantic acquisition helps PIF expand its gaming business operations.
The Pokémon Go game operation will stay under the current team following Niantic’s acquisition. Ed Wu who leads Pokémon Go division confirmed to fans that game evolution will happen but its fundamental gameplay will stay the same.
Saudi Arabia has pursued aggressive gaming sector expansion by making investments in gaming publishers Nintendo and Electronic Arts and Take-Two Interactive. Saudi Arabia demonstrates increasing strength in eSports by holding major eSports World Cup competitions and securing the 2027 Olympic eSports Games while hosting additional tournaments.
The investments made by Saudi Arabia continue to face criticism because of its poor human rights practices. The 2018 murder of Jamal Khashoggi generated worldwide condemnation yet Public Investment Fund (PIF) continues its gaming industry transformation through major acquisitions that establish Saudi Arabia as a leading gaming market force.