Jam Metropolis stated it agreed to promote its Montreal-based Ludia cellular recreation studio (and its video games) to a consortium of Canadian institutional traders.
Whereas Jam Metropolis stated it was not actively in search of a sale, the funding group offered the corporate
with a compelling supply to accumulate the studio. As one of many firm’s ten international studios, the sale
will not be anticipated to considerably impression Jam Metropolis’s total enterprise.
Jam Metropolis stays targeted on its core portfolio which incorporates its largest and hottest informal narrative and puzzle-style premium titles, and its pipeline of upcoming recreation releases slated for 2025 and 2026 stays unchanged. Jam Metropolis is totally dedicated to making sure a seamless transition for the Ludia workforce.
“We’re extremely happy with Ludia’s proficient workforce and their legacy of innovation in mid-core and AR gaming. They’re an exceptionally succesful and artistic group, and we’ve full confidence in Ludia’s brilliant future,” stated Josh Yguado, cofounder and CEO of Jam Metropolis, in a press release.
Roughly 130 of Ludia’s staff will transition to new management beneath CEO Jimmy Gendron. Ludia will function independently, managing its portfolio from its Montreal headquarters.
A small variety of Ludia staff primarily supporting Jam Metropolis titles will stay with Jam Metropolis. Jimmy Gendron, CEO of Ludia, stated in a press release, “We’re deeply grateful to our companions and teammates at Jam Metropolis for his or her assist and collaboration. This transition marks an thrilling new chapter for Ludia — one the place we embrace new alternatives and take the following step in our journey as an impartial firm.”
Jam Metropolis’s video games like Cookie Jam and Panda Pop have generated $4 billion and 1.5 billion downloads up to now.
Each events have come to an settlement in precept that’s at present beneath assessment by the Canadian Competitors Bureau.
Ludia, acquired in 2021, is one among ten Jam Metropolis studios, and its solely mid-core workforce. The sale will not be anticipated to have a big impression on Jam Metropolis’s total enterprise, as the corporate’s largest and hottest video games are informal narrative and puzzle-style premium cellular titles.
Jam Metropolis purchased Montreal-based Ludia for $165 million in September 2021. Underneath Jam Metropolis, Ludia launched its DC Heroes & Villains recreation, a match-3 puzzle RPG in 2021.
Ludia additionally made video games reminiscent of DreamWorks Dragons: Titan Rebellion in addition to Jurassic World: Alive.
