Jam City agrees deal to sell Ludia

Jam City has agreed in principle to sell its Montreal-based subsidiary Ludia to a consortium of Canadian institutional investors, pending approval, for a currently undisclosed amount.

The deal will see the consortium acquire the developer and its games catalogue, which includes mobile titles such as Jurassic World: The Game, Jurassic World Alive and Ninja Turtles: Legends.

The move is pending approval from the Canadian Competition Bureau, which is currently reviewing the sale.

Jam City said any deal isn’t expected to have a significant impact on its business. The company added it was committed to making Ludia’s transition a seamless one.

Time to sell

"Jam City has been approached by and is in discussions with a consortium of Canadian institutional investors to acquire its Montreal-based studio, Ludia, and game portfolio," a Jam City spokesperson told PocketGamer.biz.

"Both parties have come to an agreement in principle that is currently under review by the Canadian Competition Bureau. Ludia, acquired in 2021, is one of 10 Jam City studios, and their only midcore team. 

"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.

"If the sale is approved, Jam City is committed to providing a seamless transition that supports the continued success of Ludia."

Jam City first announced its intentions to acquire Ludia in 2021, during the former’s plan to go public on the New York Stock Exchange at a $1.2 billion valuation. Jam City ultimately cancelled those plans to go public but still bought Ludia regardless for $165m.

Jam City raised $350m in equity and debt financing to fund the acquisition. Less than 3.5 years later, Ludia is being sold off.