Jam City sells Ludia game studio to Canadian institutional investors
Jam City agreed to sell its Montreal-based Ludia mobile game studio (and its games) to a consortium of Canadian institutional investors.
While Jam City said it was not actively seeking a sale, the investment group presented the companywith a compelling offer to acquire the studio. As one of the company’s ten global studios, the saleis not expected to significantly impact Jam City’s overall business.
Jam City remains focused on its core portfolio which includes its largest and most popular casual narrative and puzzle-style premium titles, and its pipeline of upcoming game releases slated for 2025 and 2026 remains unchanged. Jam City is fully committed to ensuring a seamless transition for the Ludia team.
“We are incredibly proud of Ludia’s talented team and their legacy of innovation in mid-core and AR gaming. They are an exceptionally capable and creative group, and we have full confidence in Ludia’s bright future,” said Josh Yguado, cofounder and CEO of Jam City, in a statement.
Approximately 130 of Ludia’s employees will transition to new leadership under CEO Jimmy Gendron. Ludia will operate independently, managing its portfolio from its Montreal headquarters.
A small number of Ludia employees primarily supporting Jam City titles will remain with Jam City. Jimmy Gendron, CEO of Ludia, said in a statement, “We are deeply grateful to our partners and teammates at Jam City for their support and collaboration. This transition marks an exciting new chapter for Ludia — one where we embrace new opportunities and take the next step in our journey as an independent company.”
Jam City’s games like Cookie Jam and Panda Pop have generated $4 billion and 1.5 billion downloads to date.
Both parties have come to an agreement in principle that is currently under review by the Canadian Competition Bureau.
Ludia, acquired in 2021, is one of ten Jam City studios, and its only mid-core team. The sale is not expected to have a significant impact on Jam City’s overall business, as the company’s largest and most popular games are casual narrative and puzzle-style premium mobile titles.
Jam City bought Montreal-based Ludia for $165 million in September 2021. Under Jam City, Ludia released its DC Heroes & Villains game, a match-3 puzzle RPG in 2021.
Ludia also made games such as DreamWorks Dragons: Titan Uprising as well as Jurassic World: Alive.
