Saudi Arabia's sovereign wealth fund to buy Pokémon Go
The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, is set to pay $3.5 billion (€3.2 billion) to buy the gaming division of Niantic. The San Francisco-based software development company is best known for its mobile games Pokémon Go and Monster Hunter Now.
Pokémon Go is one of the world’s most popular mobile games. Launched in 2016, the augmented reality game was developed in collaboration with The Pokémon Company and Nintendo. Its usership peaked at 232 million active monthly players in 2016 and is currently at around 30 million monthly players.
“I won't say that Pokémon Go will remain the same, because it has always been a work in progress,” said Ed Wu, who leads the Pokémon Go team. “But how we create and evolve it will remain unchanged, and I hope that we can make the experience even better.”
PIF is the one of the largest sovereign wealth funds in the world with assets estimated to be worth nearly $1 trillion. Established by King Faisal bin Abdulaziz Al Saud in 1971, the PIF is used by Saudi Arabia to finance companies in the country, as well as invest in foreign ventures.
Major recent investments by the PIF include Premier League football club Newcastle United as well as the creation of LIV Golf, intended to compete with the PGA Tour.
With the purchase of Niantic, the PIF continues its expansion into the esports industry.
PIF already owns Scopely through its Savvy Games Group company. After the $4.9 billion (€4.5 billion) acquisition in 2023, Scopely – which is known for Monopoly Go – will add Niantic to its portfolio.
“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