Jam City acquires Ludia for $165m
Acquisition of Jurassic World Alive developer financed by $350m funding round
Mobile firm Jam City has acquired Montreal-based developer Ludia for $165 million.
Ludia is best known for a number of licensed mobile titles, including Jurassic World: The Game and Jurassic World: Alive, an AR title based on the Jurassic Park franchise.
In connection with the acquisition, Jam City also raised $35 million in equity and debt financing -- its largest financing round to date -- from Netmarble, Kabam, and Fortress Investment group.
Jam City plans to use the funding to continue building out a portfolio of studios.
"The synergy between Ludia's imagination, polish and innovative game mechanics with Jam City's data science platform creates the perfect marriage between our two companies and adds significant value to their deep, rich entertainment experiences," said Jam City CEO and co-founder Chris DeWolfe.
"The latest round of funding solidifies our strategy of acquiring great companies across the globe and heavily investing in our current studios to build enduring entertainment experiences that rival blockbuster Hollywood hits."
Ludia CEO and co-founder Alex Thabet, added: "With a growing portfolio of evergreen titles and the company's most ambitious slate of upcoming games in the company's history, it was time for Ludia to find the right strategic partner," said Alex Thabet, co-founder and CEO of Ludia. "Jam City is the perfect home to achieve the full growth potential ahead of us."
In May, Jam City announced its intent to go public following moves to acquire Ludia, but abandoned said plans due to "current market conditions".