Ludia, the Montreal-based game development firm has been acquired by Jam City, the mobile game publisher with many popular games out on iOS and Android, for a whopping $165 million, reports Forbes. Jam City also managed to raise $350 Million in equity and debt financing that they’ll use for adding more development studios under their umbrella, signifying potentially exciting developments in the gaming industry.
Jam City is poised to grow their portfolio
CEO and Co-Founder Chris DeWolfe said, “The synergy between Ludia’s imagination, polish and innovative game mechanics with Jam City’s data science platform creates the perfect marriage between our two companies and adds significant value to their deep, rich entertainment experiences.” He also said, “The latest round of funding solidifies our strategy of acquiring great companies across the globe and heavily investing in our current studios to build enduring entertainment experiences that rival blockbuster Hollywood hits.”
“With a growing portfolio of evergreen titles and the company’s most ambitious slate of upcoming games in the company’s history, it was time for Ludia to find the right strategic partner, Jam City is the perfect home to achieve the full growth potential ahead of us.”
alex thablet, ceo and co-founder of ludia
Seems like Jam City has some big plans for expanding their portfolio and putting in more work on their games.
For those who don’t know, Ludia has developed a bunch of popular games including official Jurassic Park/World titles while Jam City has published games like Futurama: Worlds of Tomorrow, Harry Potter: Hogwarts Mystery, Family Guy Another Freakin’ Mobile Game, Family Guy The Quest For Stuff and other casual titles. Their global franchise Cookie Jam has generated more than half a billion dollars in revenue and they have hundreds of billions of downloads across their games.
Both of these studios are certainly doing pretty well on their own but it should be interesting to see what comes out of this acquisition.
What are your thoughts on Ludia being acquired by Jam City? Let us know in the comments below.
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