Mobile game publisher Scopely announced that it has agreed to acquire GSN Games from Sony Pictures Entertainment for approximately $1 billion in cash and stock.
Operating a portfolio of free-to-play mobile and online titles that includes “Solitaire TriPeaks”, “Wheel of Fortune Slots”, and “Bingo Bash”. Scopely, on the other hand, is known for its catalog of mobile games, including Wheel of Fortune: Free Play, The Walking Dead: Road to Survival, and Star Trek: Fleet Command.
With the acquisition of GSN Games, Scopely’s valuation rose to $5.4 billion, a source close to the games company told Variety. This comes out of a $3.3 billion valuation after Scopely raised $340 million in Series E funding in October 2020. Founded in 2011, Scopely has raised $990 million in funding to date. The company said it has tripled revenues from 2018 to 2020.
Tim O’Brien, Chief Revenue Officer of Scopely, said in a statement that, “the GSN Games organization is an exceptional team, and we are excited to see what more we can accomplish together. We hope to take what is already a strong business and accelerate it through our publishing and technology infrastructure, unlocking even more value. Through this acquisition, we will continue to cultivate a loyal player base as part of our mission to inspire play, every day. The GSN Games business has proven itself as both incredibly durable and consistently profitable, due to the dynamic experiences the team continues to build for players around the world. We look forward to a great future together.”
While GSN Games has approximately 400 employees worldwide, Scopely currently has approximately 1,200 employees worldwide. GSN Chief Executive Officer, Mark Feldman, will continue to oversee the GSN Games business at Scopely, conditioned upon closing.
“I am immensely proud of the entire GSN Games team for building and enhancing our portfolio of games while delivering strong and growing profits. Over the past four years, and in the teeth of a global pandemic, GSN Games has undertaken huge tech and product improvements to deliver on our commitment to providing our players with phenomenal game experiences. I am delighted that GSN Games will now be part of Scopely’s dynamic global mobile games business,” said Feldman in a statement.
Ravi Ahuja, Chairman, Global Television Studios and Sony Pictures Entertainment Corporate Development, shared, “GSN Games has been a great business for Sony the last 14 years, and we are proud of the experiences the team continues to deliver for players around the world. In meeting the Scopely team, we knew we found the right organization to support and accelerate the business. We are confident they will take GSN Games to new heights and SPE is pleased to be a minority shareholder in Scopely as a result of this transaction.”