Saudi Investment Fund pays $ 3.5bn to catch Pokémon Go

Saudi Arabia’s Public Investment Fund (PIF) will pay a $ 3.5BN (£ 2.7bn) to purchase the gaming division of the developer NIANTIC, whose title includes the hit mobile game Pokémon Go.

Sports include hunt players visiting the real world Collectable organisms, which appear on their phone screen using the enhanced reality.

Despite launching almost a decade ago, Pokémon Go is among the highest -grossing mobile games with 30 million monthly players in the world.

The deal symbolizes the latest step by Saudi Arabia to develop its gaming industry, which has spent billions of pounds in recent years.

Other sports of Niatic, such as Monster Hunter Now and Picmin Bloom, are also involved in acquisition, as well as with those employed to make them.

They will become part of Scopely INC – which was purchased in 2023 by the PIF Assistant Savi Games Group for $ 4.9BN.

Scopely is one of the largest names in mobile gaming, its most successful title, with monopoly Go, being downloaded more than 50 million times and produces more than $ 3BN in revenue.

Pokémon itself is jointly owned by Nintendo, Game Freaks and Creators, who licensed the brand to NIANTIC to develop the game.

Ed Wu, who leads Pokémon Go Team in NIANTIC, said in a blog post that he believes that this step was a “positive step” for the future of the game.

“Pokémon Go is more than a game for me, it’s my life’s work,” he said.

“I wouldn’t say that Pokémon Go will remain similar, because it has always been a task in progress.

“But how we make and develop, it will remain unchanged, and I hope we can make the experience even better.”

Saudi Arabia is becoming a fast powerful player in gaming.

Its PIF has bets in some of the biggest publishers in the industry, such as Nintendo, Electronic Arts and Tech-Two Interactive.

It has also created waves in the asports industry, Saudi Arabia hosted major tournaments including last year’s Asports World Cup, with a prize of over $ 60m.

Riyadh will also host the 2027 Olympic Emortes Games.

Saudi Arabia’s PIF has assets of hundreds of billions due to oil funds, which is investing heavily in sports such as golf, boxing and football, including the purchase of Newcastle United in a £ 300m deal in 2021.

It is controlled by Prince Mohammed bin Salman of the country, whose government has been accused of violating human rights.

A UN report in 2019 states that “the state of Saudi Arabia is responsible” for the death of Jamal Khashogi, a journalist who was important to the government of the country.

Saudi Arabia has always denied this.