Mobile game developer Scopely struck an agreement with Disney to buy FoxNet Games, acquiring the company behind the “Marvel Strike Force” title as the studio sells assets it acquired in buying 21st Century Fox for $71.3 billion.
The acquisition will add another top-grossing game to Scopely’s live service portfolio, expand its in-development pipeline, and bring a highly experienced team to Scopely’s business.
Tim O’Brien, Chief Revenue Officer at Scopely, said, “We have been hugely impressed with the incredible game the team at FoxNext Games has built with Marvel and can’t wait to see what more we can do together.”
“In addition to successfully growing our existing business, we have been bullish on further expanding our portfolio through M&A, and FoxNext Games’ player-first product approach aligns perfectly with our focus on delivering unforgettable game experiences. We are thrilled to combine forces with their world-class team and look forward to a big future together,” Tim added.
FoxNext Games Los Angeles released its debut title Marvel Strike Force in March 2018 and it has become one of the top mobile games on iOS and Android, bringing in more than $150 million in its first year. The studio is also developing Avatar: Pandora Rising, a massively multiplayer strategy game based on James Cameron’s Avatar.
The acquisition does not include a separate portfolio of Fox IP licensed games titles, which will continue to be a part of Disney’s licensed games business. Disney acquired the FoxNext Games vertical game studios and licensed game titles in its 2019 acquisition of 21st Century Fox.
Aaron Loeb, President of FoxNext Games, stated, “I’m extremely proud of what our talented team at FoxNext Games has built and accomplished in just a few years, and look forward to joining forces with the impressive team at Scopely, who has a well-deserved reputation as one of the preeminent companies in the free-to-play games arena.”
Amir Rahimi, Senior Vice President & General Manager, FoxNext Games, added, “Both FoxNext Games and Scopely are committed to bringing beloved worlds to life through interactive gaming experiences designed to be played for years to come, and we believe this shared focus, coupled with our businesses’ unique strengths and Scopely’s expertise across multiple game genres, will lead to even greater success in the future.”
Upon completion of the transaction, Loeb will join Scopely in a newly created executive role and Rahimi will lead the FoxNext Games Los Angeles studio within Scopely as President, Games.
The acquisition agreement follows a number of recent milestones for Scopely including the achievement of more than $1 billion in lifetime revenue last summer, the acquisition of DIGIT Game Studios and global expansion across Europe, Asia, and North America.
LionTree Advisors is acting as a financial advisor to Disney, with Moelis & Company acting as financial advisor to Scopely.