Scopely to Acquire FoxNext Games from The Walt Disney Company
January 22 2020 - 11:30AM
Business Wire
Acquisition brings top-grossing mobile game
MARVEL Strike Force to Scopely’s diverse portfolio
Scopely, a leading company in the fast-growing mobile games
space, and The Walt Disney Company (NYSE: DIS) today announced that
Scopely has agreed to acquire FoxNext Games Los Angeles, the game
studio behind the blockbuster hit MARVEL Strike Force, and Cold
Iron Studios in San Jose from Disney.
The acquisition will add another top-grossing game to Scopely’s
live service portfolio, expand its in-development pipeline, and
bring a highly experienced team to Scopely’s business. FoxNext
Games Los Angeles released its debut title MARVEL Strike Force in
March 2018 and it has become one of the top mobile games on iOS and
Android, bringing in more than $150 million in its first year. The
studio is also developing Avatar: Pandora Rising, a massively
multiplayer strategy game based on James Cameron’s Avatar. The
acquisition does not include the separate portfolio of Fox IP
licensed games titles, which will continue to be a part of Disney’s
licensed games business. Disney acquired the FoxNext Games vertical
game studios and licensed games titles in its 2019 acquisition of
21st Century Fox.
“We have been hugely impressed with the incredible game the team
at FoxNext Games has built with MARVEL Strike Force and can’t wait
to see what more we can do together,” said Tim O’Brien, Chief
Revenue Officer at Scopely. “In addition to successfully growing
our existing business, we have been bullish on further expanding
our portfolio through M&A, and FoxNext Games’ player-first
product approach aligns perfectly with our focus on delivering
unforgettable game experiences. We are thrilled to combine forces
with their world-class team and look forward to a big future
together.”
“I’m extremely proud of what our talented team at FoxNext Games
has built and accomplished in just a few years, and look forward to
joining forces with the impressive team at Scopely, who have a
well-deserved reputation as one of the preeminent companies in the
free-to-play games arena,” said Aaron Loeb, FoxNext Games
President. Added Amir Rahimi, FoxNext Games Senior Vice President
& General Manager: “Both FoxNext Games and Scopely are
committed to bringing beloved worlds to life through interactive
gaming experiences designed to be played for years to come, and we
believe this shared focus, coupled with our businesses’ unique
strengths and Scopely’s expertise across multiple game genres, will
lead to even greater success in the future.” Upon completion of the
transaction, Loeb will join Scopely in a newly created executive
role and Rahimi will lead the FoxNext Games Los Angeles studio
within Scopely as President, Games.
The acquisition agreement follows a number of recent milestones
for Scopely including the achievement of more than $1 billion in
lifetime revenue last summer, the acquisition of DIGIT Game Studios
and global expansion across Europe, Asia and North America.
LionTree Advisors is acting as financial advisor to Disney, with
Moelis & Company acting as financial advisor to Scopely.
About Scopely
Scopely is a global interactive entertainment and mobile games
company, home to many top-grossing, award-winning franchises
including Star Trek™ Fleet Command, Looney Tunes™ World of Mayhem,
WWE Champions, The Walking Dead: Road To Survival™, YAHTZEE® With
Buddies and Wheel of Fortune®: Free Play, among others. Scopely
creates, publishes and live operates immersive games that empower a
directed-by-consumer experience. Founded in 2011, Scopely is fueled
by a world-class team and a proprietary technology platform that
supports one of the most diversified portfolios in the West.
Recognized in Fast Company’s ‘World’s Most Innovative Companies’
and #2 on Deloitte’s ‘Technology Fast 500’ as one of the
fastest-growing companies in North America, Scopely has achieved
more than $1 billion in lifetime revenue by creating long-lasting
game experiences. Scopely has global operations in Los Angeles,
Barcelona, Boulder, Dublin (DIGIT Games Studios), London and Tokyo,
with additional studios in seven countries across four continents.
For more information, visit www.scopely.com.
About The Walt Disney
Company
The Walt Disney Company, together with its subsidiaries, is a
diversified worldwide entertainment company with operations in four
business segments: Media Networks; Parks, Experiences and Products;
Studio Entertainment; and Direct-to-Consumer and International.
Disney is a Dow 30 company and had annual revenues of $69.6 billion
in its Fiscal Year 2019.
Forward-Looking
Statements
Certain statements and information in this communication may be
deemed to be “forward-looking statements” within the meaning of the
Federal Private Securities Litigation Reform Act of 1995.
Forward-looking statements may include, but are not limited to,
statements relating to future business performance or developments
and all statements (other than statements of historical facts) that
address events or developments that management believes will or may
occur in the future. These statements are often characterized by
terminology such as “will,” or “believe,” and similar expressions.
Any forward-looking statements in this communication are made as of
the date hereof, and Scopely and Disney undertake no duty to update
or revise any such statements. Forward-looking statements are not
guarantees of future performance. Whether actual results will
conform to expectations and predictions is subject to known and
unknown risks and uncertainties, including: general economic,
market, or business conditions; the ability to realize anticipated
benefits of the transaction; the potential impact of the
consummation of the transaction on relationships; and other
circumstances beyond management’s control.
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version on businesswire.com: https://www.businesswire.com/news/home/20200122005654/en/
Media Contacts:
Scopely: Brittany Geldmacher Corporate Communications
bgeldmacher@scopely.com
The Walt Disney Company: David Jefferson Corporate
Communications (818) 560-4832 david.j.jefferson@disney.com
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