Scopely acquires Loom Games

Scopely has acquired a majority stake in Loom Games, the developer behind Istanbul-based Pixel Flow, in a deal that values the Turkish company at over $1 billion. The acquisition underscores Scopely's intent to deepen its presence in the hybrid-casual gaming sector, leveraging the rapid success of Loom Games' signature title, Pixel Flow, which has amassed a significant player base and revenue shortly after its launch.

The structure of the acquisition involves a performance-based payment that spans several years, reflecting both firms' high expectations for future growth. Loom Games, founded recently in Turkey, gained attention with Pixel Flow, a hybrid-casual title that reached more than 10 million players globally and secured a place among the top 20 grossing games in the U.S. within a year of its release. The studio had secured a seven-figure seed round earlier this year, indicating strong investor confidence prior to the acquisition.

Scopely's strategic move into the booming Turkish gaming sector is aimed at capitalizing on Loom Games' innovative approach and proven ability to engage players. Scopely's Chief Revenue Officer, Tim O’Brien, emphasized the game's unique traction in the market, pointing out the rarity of such rapid success. Scopely aims to integrate Loom Games' creative capacity into its broader ecosystem while maintaining the studio's independence and ongoing projects.

This acquisition comes at a time when the Turkish mobile gaming market is capturing global attention, attracting substantial international investment. Loom Games, with its lean team of around 20, represents this dynamic environment well. The studio's leadership, under founders Gündoğan and Çelik, will retain operational autonomy to continue expanding their game portfolio from Istanbul, a noted hub for game development.

Looking forward, Scopely's investment in Loom Games might prompt other significant players in the global gaming industry to turn towards Turkey's burgeoning market. The transaction, while completed, relies on the anticipated continuing success of Pixel Flow and other future developments by Loom Games, making its full financial implications dependent on sustained performance metrics.