Mobile game company Jam City has acquired Jurassic World Alive developer Ludia for $165 million off the back of a new $350 million investment.
Jam City is best known for developing Harry Potter: Hogwarts Mystery and Cookie Jam, and said the Ludia deal fits its long-term strategy of acquiring studios that specifically develop and publish licensed games.
As well as working on multiple titles that utilize the Jurassic World license, Ludia intends to continue expanding its mobile portfolio using licenses from DC, Disney, Universal Pictures, and Amblin Entertainment.
In connection with the deal, Jam City also raised $350 million in equity and debt financing from Netmarble, Kabam, and affiliates of the Fortress Investment Group. The funding round is Jam City's largest to date, and comes after the U.S. company scrapped plans to go public via a merger with DPCM Capital.
Jam City co-founder and CEO, Chris DeWolfe, said both moves solidify the company's strategy of "acquiring great companies across the globe and heavily investing in our current studios."