Saudi Investment Fund Pays $3.5 Billion To Capture Pokemon Go

Saudi Arabia's Public Investment Fund (PIF) is acquiring Niantic's gaming division for $3.5 billion through its subsidiary Savvy Games Group. Niantic's titles include the hit mobile game Pokemon Go, Monster Hunter Now and Pikmin Bloom. 'Despite launching almost a decade ago, Pokemon Go is still amongst the highest-grossing mobile games in the world, with 30 million monthly players,' notes the BBC. From the report: Scopely is one of the biggest names in mobile gaming, with its most successful title, Monopoly Go, being downloaded more than 50 million times and generating more than $3 billion in revenue. Pokemon itself is jointly owned by Nintendo, Game Freak and Creatures, which licensed the brand to Niantic so it could develop the game.

Ed Wu, who leads the Pokemon Go team at Niantic, said in a blog post he believed the move was 'a positive step' for the game's future. 'Pokemon Go is more than just a game to me, it's my life's work,' he said. 'I won't say that Pokemon Go will remain the same, because it has always been a work in progress. But how we create and evolve it will remain unchanged, and I hope that we can make the experience even better.'

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