Saudi Arabia-based Scopely agreed a deal to acquire Pokemon Go-maker Niantic’s gaming business for $3.5 billion, confirming a tie-up mooted by Bloomberg last month.

In a statement, Scopely focused heavily on the fact it will have ownership of Pokemon Go, hailing it as “one of the most successful mobile games of all time”.

Owned by Savvy Games Group, a subsidiary of Saudi sovereign wealth fund PIF, Scopely added it will welcome Niantic’s entire game development teams, along with its diverse video games portfolio.

Along with Pokemon Go, Niantic has developed titles including Pikmin Bloom, Monster Hunt Now, and apps Campfire and Wayfarer, which will be added to Scopely’s games portfolio.

Niantic’s game business has more than 30 million monthly active players, generating more than $1 billion in revenue in 2024.

The headline title of Pokemon Go has ranked as a top ten mobile game every year since its launch in 2016, with more than 100 million unique players in 2024.

Under the new ownership, Scopely said Niantic’s games teams will continue to pursue their roadmaps, led by “game studio leaders” Kei Kawai and Ed Wu.

Tim O’Brien, CRO at Scopely, said Niantic has been one of the best in the world at “cultivating meaningful communities through a shared love of play”.

“We look forward to further accelerating the team’s creativity through our partnership.”

The deal is subject to customary closing conditions, including regulatory approvals.