Monday, June 9, 2025
Vertex Public
No Result
View All Result
  • Home
  • Business
  • Entertainment
  • Finance
  • Sports
  • Technology
  • Home
  • Business
  • Entertainment
  • Finance
  • Sports
  • Technology
No Result
View All Result
Morning News
No Result
View All Result
Home Technology

Saudi Funding Fund pays $3.5bn to seize Pokémon Go

News Team by News Team
March 12, 2025
in Technology
0
Saudi Funding Fund pays $3.5bn to seize Pokémon Go
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Tom Gerken

Expertise reporter

Getty Images Pokemon Go logo along with a Pikachu on a phone screen.Getty Photographs

Saudi Arabia’s Public Funding Fund (PIF) pays $3.5bn (£2.7bn) to purchase the gaming division of developer Niantic, whose titles embody the hit cellular recreation Pokémon Go.

The sport includes gamers strolling round in the true world to hunt the collectable creatures, which seem on their telephone screens utilizing augmented actuality.

Regardless of launching nearly a decade in the past, Pokémon Go continues to be amongst the highest-grossing cellular video games on the planet, with 30 million month-to-month gamers.

The deal marks the newest step by Saudi Arabia to develop its gaming business, which it has spent billions of kilos on in recent times.

Niantic’s different video games, reminiscent of Monster Hunter Now and Pikmin Bloom, are additionally included within the acquisition, together with the folks employed to make them.

They are going to develop into a part of Scopely Inc – which itself was purchased by PIF subsidiary Savvy Video games Group for $4.9bn in 2023.

Scopely is without doubt one of the greatest names in cellular gaming, with its most profitable title, Monopoly Go, being downloaded greater than 50 million occasions and producing greater than $3bn in income.

Pokémon itself is collectively owned by Nintendo, Recreation Freak and Creatures, which licensed the model to Niantic so it might develop the sport.

Ed Wu, who leads the Pokémon Go group at Niantic, mentioned in a weblog put up he believed the transfer was “a optimistic step” for the sport’s future.

“Pokémon Go is greater than only a recreation to me, it is my life’s work,” he mentioned.

“I will not say that Pokémon Go will stay the identical, as a result of it has at all times been a piece in progress.

“However how we create and evolve it’s going to stay unchanged, and I hope that we are able to make the expertise even higher.”

Saudi Arabia is changing into an more and more highly effective participant in gaming.

Its PIF has stakes in among the greatest publishers within the business, reminiscent of Nintendo, Digital Arts and Take-Two Interactive.

It has additionally made waves within the eSports business, with Saudi Arabia internet hosting main tournaments together with final 12 months’s eSports World Cup, which had a prize pool of over $60m.

Riyadh may even host 2027’s deliberate Olympic eSports Video games.

Saudi Arabia’s PIF has lots of of billions in property attributable to its oil wealth, which it has been investing closely in sports activities reminiscent of golf, boxing and soccer, together with a purchase order of Newcastle United in a £300m deal in 2021.

It’s managed by the nation’s prince Mohammed bin Salman, whose authorities has been accused of human rights violations.

A 2019 UN report said that “the state of the Kingdom of Saudi Arabia is accountable” for the loss of life of Jamal Khashoggi, a journalist who was crucial of the nation’s authorities.

Saudi Arabia has at all times denied this.

READ ALSO

Anthropic releases customized AI chatbot for labeled spy work

The Obtain: China’s AI agent increase, and GPS alternate options


Tom Gerken

Expertise reporter

Getty Images Pokemon Go logo along with a Pikachu on a phone screen.Getty Photographs

Saudi Arabia’s Public Funding Fund (PIF) pays $3.5bn (£2.7bn) to purchase the gaming division of developer Niantic, whose titles embody the hit cellular recreation Pokémon Go.

The sport includes gamers strolling round in the true world to hunt the collectable creatures, which seem on their telephone screens utilizing augmented actuality.

Regardless of launching nearly a decade in the past, Pokémon Go continues to be amongst the highest-grossing cellular video games on the planet, with 30 million month-to-month gamers.

The deal marks the newest step by Saudi Arabia to develop its gaming business, which it has spent billions of kilos on in recent times.

Niantic’s different video games, reminiscent of Monster Hunter Now and Pikmin Bloom, are additionally included within the acquisition, together with the folks employed to make them.

They are going to develop into a part of Scopely Inc – which itself was purchased by PIF subsidiary Savvy Video games Group for $4.9bn in 2023.

Scopely is without doubt one of the greatest names in cellular gaming, with its most profitable title, Monopoly Go, being downloaded greater than 50 million occasions and producing greater than $3bn in income.

Pokémon itself is collectively owned by Nintendo, Recreation Freak and Creatures, which licensed the model to Niantic so it might develop the sport.

Ed Wu, who leads the Pokémon Go group at Niantic, mentioned in a weblog put up he believed the transfer was “a optimistic step” for the sport’s future.

“Pokémon Go is greater than only a recreation to me, it is my life’s work,” he mentioned.

“I will not say that Pokémon Go will stay the identical, as a result of it has at all times been a piece in progress.

“However how we create and evolve it’s going to stay unchanged, and I hope that we are able to make the expertise even higher.”

Saudi Arabia is changing into an more and more highly effective participant in gaming.

Its PIF has stakes in among the greatest publishers within the business, reminiscent of Nintendo, Digital Arts and Take-Two Interactive.

It has additionally made waves within the eSports business, with Saudi Arabia internet hosting main tournaments together with final 12 months’s eSports World Cup, which had a prize pool of over $60m.

Riyadh may even host 2027’s deliberate Olympic eSports Video games.

Saudi Arabia’s PIF has lots of of billions in property attributable to its oil wealth, which it has been investing closely in sports activities reminiscent of golf, boxing and soccer, together with a purchase order of Newcastle United in a £300m deal in 2021.

It’s managed by the nation’s prince Mohammed bin Salman, whose authorities has been accused of human rights violations.

A 2019 UN report said that “the state of the Kingdom of Saudi Arabia is accountable” for the loss of life of Jamal Khashoggi, a journalist who was crucial of the nation’s authorities.

Saudi Arabia has at all times denied this.

Tags: 3.5bncaptureFundInvestmentpaysPokémonSaudi

Related Posts

Anthropic releases customized AI chatbot for labeled spy work
Technology

Anthropic releases customized AI chatbot for labeled spy work

June 8, 2025
The Obtain: China’s AI agent increase, and GPS alternate options
Technology

The Obtain: China’s AI agent increase, and GPS alternate options

June 7, 2025
After its knowledge was wiped, KiranaPro’s co-founder can not rule out an exterior hack
Technology

After its knowledge was wiped, KiranaPro’s co-founder can not rule out an exterior hack

June 7, 2025
United Airways companions with Spotify to supply free entry to 450+ hours of curated playlists, audiobooks, and podcasts throughout its flights (Jess Weatherbed/The Verge)
Technology

United Airways companions with Spotify to supply free entry to 450+ hours of curated playlists, audiobooks, and podcasts throughout its flights (Jess Weatherbed/The Verge)

June 6, 2025
iPhone 17 Air quick charging sounds unbelievable, however how briskly will or not it’s?
Technology

iPhone 17 Air quick charging sounds unbelievable, however how briskly will or not it’s?

June 5, 2025
Intel built-in graphics overclocked to 4.25 GHz, edging out the RTX 4090’s world report
Technology

Intel built-in graphics overclocked to 4.25 GHz, edging out the RTX 4090’s world report

June 5, 2025
Next Post
Adam Schefter appears fed up with the Aaron Rodgers state of affairs

Adam Schefter appears fed up with the Aaron Rodgers state of affairs

POPULAR NEWS

Here is why you should not use DeepSeek AI

Here is why you should not use DeepSeek AI

January 29, 2025
From the Oasis ‘dynamic pricing’ controversy to Spotify’s Eminem lawsuit victory… it’s MBW’s Weekly Spherical-Up

From the Oasis ‘dynamic pricing’ controversy to Spotify’s Eminem lawsuit victory… it’s MBW’s Weekly Spherical-Up

September 7, 2024
Mattel apologizes after ‘Depraved’ doll packing containers mistakenly hyperlink to porn web site – Nationwide

Mattel apologizes after ‘Depraved’ doll packing containers mistakenly hyperlink to porn web site – Nationwide

November 11, 2024
PETAKA GUNUNG GEDE 2025 horror movie MOVIES and MANIA

PETAKA GUNUNG GEDE 2025 horror movie MOVIES and MANIA

January 31, 2025
2024 2025 2026 Medicare Half B IRMAA Premium MAGI Brackets

2024 2025 2026 Medicare Half B IRMAA Premium MAGI Brackets

September 16, 2024
Business

CyberArk greater after elevating $1.1b convertible bond

June 9, 2025
Cummins fires warning to Proteas forward of WTC closing
Sports

Cummins fires warning to Proteas forward of WTC closing

June 8, 2025
Jim Parsons Thinks Iain Armitage’s Younger Sheldon Audition Was Exhausting For A Good Cause
Entertainment

Jim Parsons Thinks Iain Armitage’s Younger Sheldon Audition Was Exhausting For A Good Cause

June 8, 2025
SEBI corrects ‘board notice’ to ‘engagement notice’ in IndusInd insider buying and selling order
Business

SEBI corrects ‘board notice’ to ‘engagement notice’ in IndusInd insider buying and selling order

June 8, 2025
How A lot You Actually Want and How one can Save It
Finance

How A lot You Actually Want and How one can Save It

June 8, 2025
Anthropic releases customized AI chatbot for labeled spy work
Technology

Anthropic releases customized AI chatbot for labeled spy work

June 8, 2025
Vertex Public

© 2025 Vertex Public LLC.

Navigate Site

  • About Us
  • Privacy Policy
  • Disclaimer
  • Contact Us

Follow Us

No Result
View All Result
  • Home
  • Business
  • Entertainment
  • Finance
  • Sports
  • Technology

© 2025 Vertex Public LLC.