Scopely to Acquire FoxNext Games Los Angeles from Disney

By Michael Dabaie

Mobile games company Scopely said it agreed to acquire FoxNext Games Los Angeles and Cold Iron Studios from Walt Disney Co. (DIS).

FoxNext is the game studio behind MARVEL Strike Force.

Scopely said the acquisition will add to its live service portfolio and expand the in-development pipeline.

FoxNext Games Los Angeles released its debut title MARVEL Strike Force in March 2018 and it has brought in more than $150 million in its first year, Scopely said. The studio is also developing Avatar: Pandora Rising.

The acquisition doesn't include the separate portfolio of Fox IP licensed games titles, which will continue to be a part of Disney's licensed games business, Scopely said. Disney acquired the FoxNext Games vertical game studios and licensed games titles in its 2019 acquisition of 21st Century Fox.

Upon completion of the transaction, Aaron Loeb, FoxNext Games president, will join Scopely in a newly created executive role and Amir Rahimi, FoxNext Games senior vice president and general manager, will lead the FoxNext Games Los Angeles studio within Scopely as president, Games.

LionTree Advisors is acting as financial adviser to Disney, with Moelis & Company acting as financial adviser to Scopely.

Write to Michael Dabaie at [e-mail]

(END) Dow Jones Newswires

January 22, 2020 13:13 ET (18:13 GMT)

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