Disney Sells FoxNext Games Los Angeles And Cold Iron Studios To Scopely

Scopely

Disney has sold FoxNext Games LA, maker of the video game Marvel Strike Force, and Cold Iron Studios in San Jose to mobile game specialist Scopely, the companies announced Wednesday.

The deal stems from Disney’s $71.3 billion acquisition last year of most of 21st Century Fox, including FoxNext Games. The transaction does not affect the separate portfolio of Fox IP licensed game titles, which will continue to be a part of Disney’s licensed games business.

Financial terms were not revealed in the official announcement.

FoxNext Games LA released its debut title, Marvel Strike Force, in March 2018, has become one of the top mobile games on iOS and Android, bringing in more than $150 million in its first year. The studio is also developing Avatar: Pandora Rising, a massively multiplayer strategy game based on James Cameron’s Avatar.

Founded in 2011, Scopely publishes top games such as Star Trek Fleet Command, Looney Tunes World of Mayhem, The Walking Dead: Road To Survival and many others.

“We have been hugely impressed with the incredible game the team at FoxNext Games has built with MARVEL Strike Force and can’t wait to see what more we can do together,” Scopely chief revenue officer Tim O’Brien said. “In addition to successfully growing our existing business, we have been bullish on further expanding our portfolio through M&A, and FoxNext Games’ player-first product approach aligns perfectly with our focus on delivering unforgettable game experiences. We are thrilled to combine forces with their world-class team and look forward to a big future together.”

“I’m extremely proud of what our talented team at FoxNext Games has built and accomplished in just a few years, and look forward to joining forces with the impressive team at Scopely, who have a well-deserved reputation as one of the preeminent companies in the free-to-play games arena,” said Aaron Loeb, president of FoxNext Games.

Amir Rahimi, FoxNext Games SVP and GM, added, “Both FoxNext Games and Scopely are committed to bringing beloved worlds to life through interactive gaming experiences designed to be played for years to come, and we believe this shared focus, coupled with our businesses’ unique strengths and Scopely’s expertise across multiple game genres, will lead to even greater success in the future.”

Upon completion of the transaction, Loeb will join Scopely in a newly created executive role. Rahimi will lead the FoxNext Games LA studio within Scopely as President, Games.

LionTree Advisors is financial advisor to Disney and Moelis & Co. is financial advisor to Scopely.

This article was printed from https://deadline.com/2020/01/disney-sells-foxnext-games-los-angeles-and-cold-iron-studios-to-scopely-1202837961/