Jam City sells Ludia to Canadian investors as studio regains independence
Summary
Jam City has agreed to sell its Montreal-based studio Ludia to a group of Canadian investors and Ludia's own senior management team
The deal returns Ludia to independence, ~3.5 years after Jam City acquired it for $165M in September 2021
Jimmy Gendron appointed as new CEO, leading ~130 employees, with founder Alexandre Thabet rejoining as chairman
Jam City states the sale was not proactively sought but came from a compelling inbound offer, with no expected impact on its own pipeline
"This return to independence marks the beginning of an exciting new chapter for Ludia"
01
Deal structure - Canadian institutional investors back the buyout
The buyer group includes Fonds de solidarité FTQ, Investissement Québec, BDC Capital Growth Equity Partners, Export Development Canada, and Groupe W
National Bank provided additional financial backing for the transaction
Ludia's former CFO Dominic Bécotte served as a consultant during the buyout process
Jam City emphasizes the sale was driven by an unsolicited compelling offer, not a strategic divestiture push
02
Studio transition - Ludia operates independently with new leadership
Jimmy Gendron takes the CEO role, overseeing approximately 130 employees
Ludia founder Alexandre Thabet returns as a shareholder and will serve as chairman of the board
A small number of Ludia staff will remain at Jam City to support titles that stay with the parent firm
Ludia's game portfolio transfers as part of the deal, while Jam City retains select titles
03
Jam City impact - pipeline and operations remain unaffected
Jam City confirms the buyout is not expected to significantly impact its overall business
Its upcoming release pipeline is described as unchanged following the transaction
"We are incredibly proud of Ludia's talented team and their legacy of innovation in mid-core and AR gaming"
04
What's next - Ludia eyes ambitious standalone growth
As an independent studio, Ludia is positioned to pursue its own creative and strategic direction
Leadership signals an ambition to deliver games at scale, targeting millions of players globally
"We now have the opportunity to bring an ambitious vision to life, delivering games that captivate millions of players worldwide"
The backing of multiple institutional partners gives Ludia a strong financial foundation to execute on that vision
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