Pokémon Go developer Niantic to sell gaming business to Saudi group

Niantic Labs has announced that it’s selling its video game division to Saudi Arabia-owned mobile developer Scopely for $3.5 billion after struggling to replicate the success of Pokémon Go across its other AR games. The newly inked agreement includes Niantic’s Pokémon Go, Monster Hunter Now, and Pikmin Bloom mobile gaming titles. “Niantic games have always been a bridge to connect people and inspire exploration, and I am confident they will continue to do both as part of Scopely,” said Niantic CEO John Hanke. “I firmly believe this partnership is great for our players and is the best way to ensure that our games have the long-term support and investment needed to be ‘forever games’ that will endure for future generations.” The acquisition is subject to regulatory approval and other closing conditions. Should the deal go through, it will also bring Niantic’s social companion apps for Pokémon Go — Campfire and Wayfarer — under Scopely ownership. Scopely says it will gain “Niantic’s ent ... Read full article.