Happy Thursday everyone!

Saudi Arabia’s Public Investment Fund-backed Scopely is eyeing more acquisitions after its $3.5 billion purchase of Pokémon Go, signaling an aggressive expansion strategy in gaming. Meanwhile, Tesla is set to launch in Saudi Arabia next month, marking a thaw in relations between Elon Musk and the kingdom. In the UAE, Masdar is considering an IPO to fund its renewable energy ambitions, as Gulf investors continue to dominate global dealmaking.

Let’s dive in!

But before that: You can join our Whatsapp channel too to receive updates from the business world.

For quick daily updates, follow us on Instagram, and you can watch our Smashi Business Show live every weekday from 10AM onwards (UAE time).

Saudi PIF’s Scopely Eyes More Acquisitions After $3.5B Pokémon Go Deal

📰 What is it about?

• Scopely Inc. has acquired Pokémon Go in a $3.5 billion deal as part of its expansion strategy.

• The mobile gaming giant aims to build a portfolio of hit games to sustain long-term growth.

• Backed by Saudi Arabia’s Public Investment Fund (PIF), Scopely is exploring acquisitions in mobile, PC, and console gaming.

• The company is taking a hands-off approach to Pokémon Go, with no new titles planned beyond Niantic’s existing three games.

💡 Why it matters?

• The gaming industry, worth $178 billion, struggled with flat growth last year, pushing companies toward consolidation.

• Scopely’s success with Monopoly Go!—which hit $3 billion in revenue within a year—shows its ability to capitalize on strong gaming IPs.

• Unlike many gaming firms cutting jobs, Scopely is expanding, with plans to grow beyond its 2,400 employees.

• Saudi Arabia, through Savvy Games Group, is investing heavily in gaming, positioning itself as a key player in the industry.

🔜 What’s next?

• Scopely’s leadership has hinted at further acquisitions, prioritizing genre-leading titles and top development teams.

• The company is working with CD Projekt on a new game, signaling a potential expansion into premium console and PC gaming.

• With billions in investment capital, Scopely is expected to remain aggressive in deal-making while strengthening its existing game portfolio.

ODEUM – A Cutting-Edge Content Studio for All Your Production and Social Media Management Needs

📰 What is it about?

• Odeum, the content studio built for modern media consumption, partnering with brands to deliver tailored content services while also creating original productions under the Augustus Media network.

💡 Why Choose ODEUM?

At ODEUM, we provide end-to-end media solutions to elevate your brand across multiple platforms.

• Video Production: From AI-powered videos to immersive live streaming and CGI storytelling.

• Animation Services: Dynamic 2D & 3D animation, motion graphics, and visually striking CGI. 

• Audio Production: Podcasting, sound design, and professional voiceovers that elevate content with immersive audio experiences.

• Original Content Development: Conceptualizing and producing shows, short films, and series that engage and inspire.

• Studio Rental: Fully equipped production spaces designed for seamless content creation, offering state-of-the-art filming, podcasting, and photography setups to bring creative visions to life.

🔜 What’s next?

• Have a project in mind? Let's make it happen!

• Book a studio or discuss your next big idea with us today.

Follow ODEUM on LinkedIn, Instagram, Facebook, and X.

Markets

Tesla to Enter Saudi Market as Musk and Kingdom Reconcile

📰 What is it about?

• Tesla will officially launch in Saudi Arabia next month, marking its entry into the region’s largest auto market.

• The move signals a mended relationship between Elon Musk and the kingdom, following tensions over Musk’s 2018 bid to take Tesla private.

• A launch event in Riyadh on April 10 will showcase Tesla EVs, solar-powered products, and AI innovations like the Cybercab and Optimus robot.

• Invitations to the event ask attendees to indicate their preferred Tesla model, hinting at an imminent sales push.

💡 Why it matters?

• Tesla's entry could reshape Saudi Arabia’s slow-growing EV market, where electric vehicles account for just 1% of total sales.

• The Public Investment Fund (PIF), once at odds with Musk, has invested heavily in rival EV brands like Lucid and the Saudi-based Ceer.

• Musk’s warming ties with Saudi Arabia align with his growing political influence, particularly with former U.S. President Donald Trump, who plans to visit the kingdom.

• Tesla’s global EV sales have slowed, partly due to Musk’s controversial political stances, making expansion into new markets critical.

🔜 What’s next?

• Tesla’s success in Saudi Arabia will depend on infrastructure expansion, as EV charging stations remain scarce.

• The kingdom’s continued investment in EVs could lead to future collaborations—or competition—between Tesla and PIF-backed brands.

• With Riyadh aiming to diversify its economy and reduce reliance on oil, Tesla’s presence may accelerate the push toward sustainable transportation.

Reuters Says Masdar Considering IPO, Renewables Giant says ‘No Current Plans’

What is happening?

• Abu Dhabi’s state-owned renewables giant Masdar is in the early stages of evaluating an initial public offering (IPO), Reuters said it had learned through sources.

• The company is considering a potential listing in Abu Dhabi, with a dual listing in New York also a possibility.

• Masdar has held informal discussions with banks, but no final decision has been made.

• An IPO would not happen before 2026, and the company may decide against it altogether.

• Masdar said it "has no current plans to go public", in response to Reuters questions, adding it did not comment on "market speculation as a matter of policy."

Why it matters:

• Masdar is a key player in the global renewable energy sector, operating in over 40 countries and targeting 100 gigawatts of capacity by 2030.

• Backed by major Abu Dhabi entities—TAQA, Mubadala, and ADNOC—the company has been aggressively expanding through acquisitions.

• The Middle East has become a hot spot for IPOs, raising $12.6 billion in 2023, even as global markets cooled.

• High interest rates and rising debt costs have driven Gulf investors like Masdar to acquire stakes in European renewable assets.

What’s next?

• Masdar’s potential IPO could attract global investors seeking exposure to the fast-growing renewables market.

• The firm will continue expanding through acquisitions, with recent deals in Spain and Greece bolstering its portfolio.

• If it proceeds, Masdar’s listing would follow a trend of major Gulf energy players going public to fund future growth.

🔍In other news…

• UAE banks back Turkey Wealth Fund’s $1.2bn loan.

• Adia-backed London insurer seeks $2.5 billion for growth.

• Thai firms eyeing investment in Saudi Arabia’s Qassim region, ambassador reveals.

• DXB set to welcome 3.6 mn guests over Eid holiday peak.

Dividends:

• Emaar Properties announces 100% dividend payout of AED8.8 billion.

• Tabreed approves AED441 million dividend payout for FY 2024.

• ADNOC Distribution approve H2 2024 dividend, bringing total annual payout to $700 million.

The Latest from the Smashi Business Studio

Were you forwarded this email? Subscribe here