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Savvy Games Group was established in 2021 by Saudi Arabia's Public Investment Fund (PIF) as part of a broader goal of diversifying the Saudi economy and growing the Saudi video game industry. [1] In 2021, Savvy Games Group acquired shares in three American video game firms, Electronic Arts, Take-Two Interactive, and Activision Blizzard. [2]
In October 2021, Scopely acquired Game Show Network's online gaming division (GSN Games) from Sony in a $1 billion cash and stock deal. Sony Pictures took a minority stake in the company as a result. [19] [20] Savvy Games Group announced its intent to acquire Scopely, Inc for $4.9 billion on April 5, 2023.
The company has administered leagues for games such as Counter-Strike 2, League of Legends, Rocket League, Tom Clancy's Rainbow Six Siege, Dota 2 and Team Fortress 2. In 2022, it was announced that FACEIT and esports company ESL were being acquired by Savvy Games Group (SGG), a holding company owned by Saudi Arabia's Public Investment Fund ...
Savvy, a games and esports company that is wholly owned by Saudi Arabia’s Public Investment […] Mobile Games Company Scopely to Be Acquired by Saudi-Backed Savvy Games Group for $4.9 Billion ...
ESL Gaming GmbH (formerly known as Electronic Sports League) is a German esports organizer and production company that produces video game competitions worldwide. ESL was the world's largest esports company in 2015, [1] and the oldest that is still operational. [2]
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Savvy Gaming Group (later Savvy Games Group), a company wholly owned by Saudi Arabia's Public Investment Fund, invested about $1 billion into Embracer Group in June 2022, gaining an 8.1% stake. [63] Embracer Group transitioned from Nasdaq First North to Nasdaq Stockholm on 22 December 2022. [64]
The PIF has 38% stake in Posco Engineering & Construction Co., a 5% stake in Uber (for $3.5 billion), and a 5% stake in the video game companies Capcom and Nexon (for $1 billion). [19] In March 2016, it was announced that ownership of Saudi Aramco would be transferred to the PIF and that the Kingdom will seek to list 5 percent of Aramco's ...