News

Update: Ludia confirms Jam City acquisition

Estimated offer of $175 million, Jam City merging with DPCM Capital

Date Type Companies involved Size
May 20th, 2021 acquisition Jam City
Ludia
$175m
Update: Ludia confirms Jam City acquisition

Update: Ludia has confirmed to PocketGamer.biz the validity of the Bloomberg report regarding the acquisition of the studio by Jam City. No further details were shared.

Original Story: LA mobile gaming outfit Jam City is set to acquire Canadian studio Ludia before merging with special purpose acquisition company (SPAC) DPCM Capital to go public.

As reported by Bloomberg, people close to the matter - that wished to not be identified - claimed that the combined valuation of the company would be around $1.2 billion.

South Korean mobile developer Netmarble, which is already an investor in Jam City, was said to have helped raise support for a $100 million private placement.

Big buy

The purchase of Ludia was estimated to be around $175 million, according to the sources.

One of its biggest hits was the location-based augmented reality game Jurassic World Alive, grossing $40 million within nine months of launch.

Founded in 2010 by MySpace co-founder Chris DeWolfe, Jam City has achieved large success with mobile titles such as Cookie Jam, Disney Emoji Blitz and Harry Potter: Hogwarts Mystery.

The latter of recently surpassed $300 million from player spending.

DPCM Capital was founded in 2020 by former Uber senior vice president of business Emil Michael.

PocketGamer.biz has reached out to Jam City and Ludia for comment.

We previously spoke with Jam City product marketing manager Christie Genochio regarding the four-year anniversary of Disney Emoji Blitz.


Deputy Editor

Matthew Forde is the deputy editor at PocketGamer.biz and also a member of the Pocket Gamer Podcast. You can find him on Twitter @MattForde64 talking about stats, data and everything pop culture related - particularly superheroes.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies