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Mobile games company Jam City revealed on Wednesday that it has acquired Canadian game development studio Ludia for $165 million.
Ludia is led by co-founder and CEO Alex Thabet and known for original mobile games based on internationally recognized franchises, such as Jurassic World: The Game, Teenage Mutant Ninja Turtles, DreamWorks Dragons: Titan Uprising and more.
“The synergy between Ludia’s imagination, polish and innovative game mechanics with Jam City’s data science platform creates the perfect marriage between our two companies and adds significant value to their deep, rich entertainment experiences,” said Chris DeWolfe, co-founder and CEO of Jam City.
In connection with Jam City’s acquisition, which follows the company’s mission to bolster its global portfolio of studios, it has raised $350 million in funding — its largest financing round to date — from investors including Netmarble and Kabam.
“The latest round of funding solidifies our strategy of acquiring great companies across the globe and heavily investing in our current studios to build enduring entertainment experiences that rival blockbuster Hollywood hits,” said DeWolfe.
Jam City is known for the role-playing game Harry Potter: Hogwarts Mystery, as well as the Panda Pop and Cookie Jam franchises. The company is based in Culver City, Los Angeles.
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