Saudi PIF-owned Savvy buys gaming firm for $4.9 bn; STV fund gets LP chequeCredit: 123RF.comFunding activity in the Gulf region remained subdued in the first week of April with only a handful of companies led by gaming platform Savvy Games Group striking deals. Saudi Arabia's Savvy this week acquired California-based game developer and publisher Scopely for $4.9 billion. Savvy is owned by the Public Investment Fund (PIF), the kingdom's sovereign wealth fund. AdvertisementTGP was launched by Saudi venture capital firm STV in February with over $150 million in initial committments. Shaker Group aims to strengthen its e-commerce and retail platforms with the deal.

Source: The North Africa Journal April 07, 2023 21:14 UTC