Today mobile developer Jam City has announced that it has ended its previous plans of going public.
The mobile developer and publisher was originally planning to achieve this through a merger with acquisition company DPCM Capital.
Both companies stated that decision was mutual as it was attributed to "current market conditions" the report said.
In May, Jam City announced its intentions of going public after acquiring developer Ludia.
The mobile developer was valued to go public at $1.2 billion valuation.
Founded by former senior vice president of business at Uber, Emil Michael DPCM Captial is a SPAC: a special purpose acquisition company.
Jam City has developed mobile titles such as Cookie Jam, Disney Pop Town, Happy Potter: Hogwarts Mystery