Sony sells mobile games subsidiary to Scopely for $1 billion

Sony Group has agreed to sell its mobile games subsidiary to U. S-based mobile game developer Scopely for about $1 billion.

Sony has agreed to sell its mobile gaming subsidiary, GSN Games, to mobile gaming firm Scopely in a deal valued at $1 billion. Sony will receive about half its payment in stock, becoming a minority stakeholder in Scopely. Scopely will pay the remaining half in cash. Mark Feldman, the GSN CEO, will continue to oversee operations under the Scopely umbrella.

GSN Games is a part of The Games Show Network, a subsidiary of Sony Pictures Entertainment. Sony Pictures Entertainment made Games Show Network a wholly-owned subsidiary in 2019 with an investment of $380 million. GSN Games started providing online games in 2007, and the studio develops online casino and mobile games based on solitaire, poker, bingo, and other games. Its Solitaire TriPeaks game is played 100 million times per week.

Sony Group is already in the video game business through its Sony Interactive Entertainment division, which owns several game studios that mostly create content for its PlayStation platform. While the games produced by GSN games are popular, Sony decided they are not part of its core business. The Sony Group focuses on video game business based on intellectual property from the group's movies, anime, music, and other content.