Sony Pictures Entertainment (SPE) agreed to sell its mobile gaming unit GSN Games to US-based developer Scopely for about $1 billion, with the Japan-based company to keep a minority interest in the company.
SPE explained in a statement half of the transaction value will be paid in cash and the remainder in preferred equity, giving it a minority shareholding in a sector and business it expects to grow.
GSN Games CEO Mark Feldman will oversee the business after the move to Scopely. Around 400 staff will also move to the US company.
The deal is subject to standard closing conditions, including regulatory approvals.
GSN Games is a division of SPE subsidiary Game Show Network which operates a portfolio of free-to-play mobile and online games including Solitaire TriPeaks and Bingo Bash.Subscribe to our daily newsletter Back