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Scopely to Acquire Majority Stake in Breakout Mobile Game "Pixel Flow!" and the Development Team Behind It
Scopely's acquisition of Istanbul-based Loom, valued over $1 billion, expands its EMEA development capacity with Pixel Flow! played by 10 million globally.
- Recently, mobile gaming giant Scopely struck a definitive agreement to acquire a majority stake in Loom, the Istanbul-based development studio, in a multi-year, performance-based deal valuing the business in excess of $1,000,000,000.
- Last year, the studio was formed by Kübra Gündoğan and Emre Çelik , and their mobile puzzle game Pixel Flow! has been played by more than 10 million people globally.
- Backed by investors including Arcadia Gaming Partners, the Pixel Flow! team of approximately 20 gamemakers closed a seed round last year, and Tim O'Brien praised their creativity and traction.
- Scopely said the partnership expands its development capacity in Turkey, with Kübra Gündoğan and Emre Çelik continuing to lead the studio from Istanbul, supporting their roadmap within the Scopely ecosystem.
- Amid Scopely's momentum as the #1 U.S. mobile video game company, the company’s acquisition of Loom, valued over $1 billion, expands its global development footprint, supported by over $10 billion in lifetime revenue.
11 Articles
11 Articles
Saudi-owned Scopely takes majority stake in Turkey’s Loom Games in $1B deal - Tech Startups
Saudi-owned mobile gaming giant Scopely is doubling down on its global expansion strategy with a majority investment in Istanbul-based Loom Games, a deal that values the Turkish studio at more than $1 billion. The transaction turns Loom into Türkiye’s seventh […] The post Saudi-owned Scopely takes majority stake in Turkey’s Loom Games in $1B deal first appeared on Tech Startups.
Scopely To Acquire Majority Stake In Pixel Flow!
Skadden is advising Scopely on its agreement to acquire a majority stake in the Turkish company that developed Pixel Flow! — a top-20 grossing mobile game in the United States. Scopely is an interactive entertainment and video game company. The Skadden team includes David Niemeyer, Jeffrey Brill, Ken Kumayama, Leila Sayegh and Page Griffin. The post Scopely To Acquire Majority Stake In Pixel Flow! appeared first on Conventus Law.
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