Skadden and Fenwick & West are advising on a transaction that will see a unit of Saudi Arabia’s Public Investment Fund (PIF) acquire Pokémon GO and other brands for $3.5 billion.
Skadden is advising Scopely on its $3.5 billion acquisition of Niantic’s games business, which includes Pokémon GO, Pikmin Bloom, and Monster Hunter Now.
Los-Angeles partners Jeffrey Cohen and David Niemeyer are leading the Skadden team. The pair also led Skadden’s 2023 representation of Scopely in its $4.9 billion sale to Savvy Games Group, which is wholly owned by Saudi Arabia’s PIF.
Fenwick & West is advising Niantic. As part of the transaction, Niantic’s geospatial artificial intelligence (AI) business will be spun-off into a new company, Niantic Spatial, Inc., and will receive $250 million in investment from Niantic and Scopely, the firm said in a statement.
The Fenwick & West deal team includes corporate partners Kris Withrow, Ryan Slunaker, and Mark Stevens. Fenwick said it has served as outside counsel to Niantic since its inception in 2015, led by former partner Sayre Stevick and partners Mark Stevens, Patrick Grilli, and Daniel Brownstone.
Saudi Arabia has emerged as a hub for gaming and esports, a sector reportedly worth more than the film and music industries combined, through investment and the hosting of major events, including the Esports World Cup and the upcoming Olympic Esports Games starting in 2025.
