PHOTO
US-based Pokémon Go developer Niantic is holding talks to sell its video-game business to a unit of Savvy Games Group, a subsidiary of Public Investment Fund (PIF), for $3.5 billion, according to Bloomberg.
A deal could be announced in the coming weeks, the news agency said, quoting informed sources.
The agreement will involve the Pokémon title and other mobile games, the news report added.
Niantic failed to duplicate the success of Pokémon Go, cancelling some titles in development in 2022 and 2023, Bloomberg said.
In August 2024, Savvy and Niantic signed a deal to expand the latter’s reach in Saudi Arabia, the UAE and Egypt.
Niantic was spun out of Alphabet Inc. as an independent private company in 2015.
(Editing by Seban Scaria)
