Disney to sell FoxNext Games to Scopely
The Walt Disney Company and Scopely, a leading firm in the rapidly expanding cell phone games sector, have announced that the latter will be buying FoxNext Games Los Angeles, the game studio behind the blockbuster hit MARVEL Strike Force, and Cold Iron Studios in San Jose from the former.
The acquisition will expand Scopely’s in-development pipeline, include one more top-grossing game to its live service portfolio and bring a highly experienced team to its business.
Strike Force, FoxNext’s debut title, was released in March 2018. The mobile phone video game is today one of the top iOS and Android games, making more than $150 million in its first year.
FoxNext is also developing Avatar: Pandora Rising, which is a massively multiplayer strategy game based on Hollywood screenwriter and director James Cameron’s Avatar.
The deal does not involve the independent portfolio of Fox IP licensed games titles, which will keep being part of the licensed games business of Disney.
It should be noted here that Disney bought the FoxNext Games vertical game studios and licensed games titles in its 2019 acquisition of 21st Century Fox.
Scopely chief revenue officer Tim O’Brien said in a press release, “We have been hugely impressed with the incredible game the team at FoxNext Games has built with MARVEL Strike Force and can’t wait to see what more we can do together.”
He added, “In addition to successfully growing our existing business, we have been bullish on further expanding our portfolio through M&A, and FoxNext Games’ player-first product approach aligns perfectly with our focus on delivering unforgettable game experiences. We are thrilled to combine forces with their world-class team and look forward to a big future together.”
FoxNext Games president Aaron Loeb stated, “I’m extremely proud of what our talented team at FoxNext Games has built and accomplished in just a few years, and look forward to joining forces with the impressive team at Scopely, who have a well-deserved reputation as one of the preeminent companies in the free-to-play games arena.”
The studio’s senior vice president and general manager, Amir Rahimi, commented, “Both FoxNext Games and Scopely are committed to bringing beloved worlds to life through interactive gaming experiences designed to be played for years to come, and we believe this shared focus, coupled with our businesses’ unique strengths and Scopely’s expertise across multiple game genres, will lead to even greater success in the future.”
After the successful acquisition, Rahimi will lead the studio within Scopely as president of Games and Loeb will join Scopely in a newly created executive position.
Scopely achieved more than $1 billion in lifetime revenue last summer. The company also recently acquired DIGIT Game Studios and expanded globally across North America, Asia and Europe.
Image credit - Coolcaesar (CC BY-SA 4.0)
