In a significant transaction within the gaming and legal sectors, lawyers from Skadden, Arps, Slate, Meagher & Flom LLP and Fenwick & West LLP are directing a $3.5 billion acquisition deal. This deal involves Saudi-backed Scopely Inc. purchasing the gaming business of Niantic Inc., the renowned creator of Pokemon Go. This acquisition is poised to have notable implications for both the gaming and legal landscapes.
The legal counsel for Scopely in this transaction comprises Los Angeles-based M&A partners Jeffrey Cohen and David Niemeyer from Skadden. It is noteworthy that this is not the first time Skadden has represented Scopely in large-scale transactions. In 2023, the firm played a crucial role in Scopely’s acquisition by Savvy Games Group, a subsidiary of the Public Investment Fund of Saudi Arabia, for $4.9 billion.
The legal market in Saudi Arabia is bustling as numerous law firms establish new offices to tap into the oil-rich region’s burgeoning global legal market. The Public Investment Fund’s involvement in various sectors enhances business prospects for big law firms eager to engage with the fund’s projects. For further details on this transaction, please visit Bloomberg Law.