Jam City sells Ludia to Canadian investors less than 4 years after $165M acquisition
Summary
Jam City agreed in principle to sell Montreal-based studio Ludia to a consortium of Canadian institutional investors
Sale price remains undisclosed and is pending approval from the Canadian Competition Bureau
Ludia was acquired in 2021 for $165M as part of a $350M financing round - sold off in under 3.5 years
The divestiture signals a strategic retreat from midcore mobile, refocusing Jam City on casual narrative and puzzle titles
"The sale is not expected to have a significant impact on Jam City's overall business, as the company's largest and most popular games are casual narrative and puzzle-style premium mobile titles."
01
Deal structure - undisclosed price, regulatory review pending
A consortium of Canadian institutional investors will acquire Ludia and its full games catalogue
Sale price has not been disclosed publicly
The Canadian Competition Bureau is currently reviewing the transaction before it can be finalized
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Ludia's portfolio includes key licensed IP titles
Ludia's catalogue includes Jurassic World: The Game, Jurassic World Alive, and Ninja Turtles: Legends
Ludia was described as Jam City's only midcore team among its 10 studios
The studio is based in Montreal and operates independently from Jam City's core casual game business
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A costly acquisition reversed in under 4 years
Jam City originally acquired Ludia in 2021 for $165M, funded through a $350M equity and debt financing round
The acquisition was part of Jam City's now-cancelled plan to go public on the NYSE at a $1.2B valuation
Despite cancelling the IPO, Jam City proceeded with the Ludia purchase - now reversing course less than 3.5 years later
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Jam City refocuses on casual core - transition support promised
Jam City states the sale will have no significant impact on its overall business performance
The company's strategic focus remains on casual narrative and puzzle-style premium mobile titles
Jam City committed to ensuring a seamless transition to support Ludia's continued success post-sale
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