The gaming company Niantic, behind the hit Pokémon Go, is in talks with the Saudi company Scopely to sell its gaming business, according to a report by Bloomberg.
According to sources, the deal could be finalized in the coming weeks with a total value of about $3.5 billion. The agreement will include Pokémon Go as well as other mobile games. Both companies declined to comment on the report.
The game Pokémon Go became a global phenomenon after its launch in 2016, achieving great success. The game is based on the user's camera and physical location component (using GPS) and allows players to explore the virtual Pokémon world integrated into the real world. The game sends the player, based on their location, to search for Pokémon at historical, cultural, and other sites. According to Niantic, the game is still considered the most popular and profitable augmented reality app of all time.
Saudi's Scopely is owned by Savvy Games Group, which is itself a subsidiary of Saudi Arabia's sovereign wealth fund. It acquired Scopely two years ago for $4.9 billion.