Scopely looking to raise USD 3bn: Bloomberg

US mobile game developer Scopely is planning to raise around USD 3.00 billion through a funding round, people close to the situation told Bloomberg.

According to the sources, who asked to remain anonymous as the matter is confidential, the company has been in talks with investors to secure at least USD 200.00 million.

The people noted Wellington Management and NewView Capital Management are expected to lead the fundraising.

However, the insiders cautioned no financial decision has been made and the terms of the transaction could still change.

Located in California, Scopely creates and publishes a range of interactive, mobile-based video games.

Its titles include of Dice With Buddies, WWE Champions and Marvel Strike Force.

Formed in 2011 and backed by the likes of Chernin Group and Advance, Scopely generated around USD 475.00 million in bookings last year, the people told Bloomberg.

In October 2019, the company raised USD 200.00 million through a funding round led by NewView.

At the time, Scopely said it would use the proceeds to expand its portfolio via mergers and acquisitions.

The group subsequently agreed to snap up US-based mobile video game developer FoxNetGames in January 2020.

In April this year, it also acquired California-headquartered PierPlay. No financial details were announced for either transaction.

Representatives for Scopely, Wellington and NewView either declined or did not respond to requests for comment when contacted by Bloomberg.

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The news provider noted the possible funding round comes during a popular time for the gaming industry, as people look to distract themselves at home during the ongoing coronavirus pandemic.

Zephyr, the M&A database published by Bureau van Dijk, shows there have been 3,116 deals targeting software publishers announced globally in 2020 to date.

In the joint-largest of these, Aveva Group agreed to acquire UK-based OSIsoft for USD 5.00 billion. Insight Holdings Group also snapped up Veeam Software Holding for the same amount.

© Zephus Ltd


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