Jam City completes Ludia sale
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Jam City has completed the sale of Montreal-based mobile games developer Ludia three and a half years after it acquired the studio for $165 million.
PocketGamer.biz reported last week that the publisher had agreed a deal in principle to sell Ludia to a consortium of Canadian investors, which has now been cleared.
The deal includes Ludia’s portfolio of titles, which features Jurassic World: The Game, Jurassic World Alive and Ninja Turtles: Legends.
Approximately 130 of the studio’s employees will remain with Ludia under CEO Jimmy Gendron, who has acted as the developer’s GM since 2022. A small number of staff that had primarily been supporting Jam City’s titles will remain with the publisher.
“Compelling offer”
Jam City said it had not actively been seeking a sale of Ludia, but an investment group presented it with a “compelling offer”.
The consortium acquiring the studio includes 1524316 BC LTD, BDC Capital Inc, Investissement Québec, Fonds de solidarité des travailleurs et travailleuses du Québec and Export Development Canada.
The publisher maintained that as one of its 10 global studios, the sale is not expected to significantly impact its overall business.
“We are incredibly proud of Ludia’s talented team and their legacy of innovation in mid-core and AR gaming,” said Jam City CEO and co-founder Josh Yguado.
“They are an exceptionally capable and creative group, and we have full confidence in Ludia’s bright future.”
Ludia CEO Jimmy Gendron added: “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.”
Update: We’ve updated the story with the names of the investors. Jam City also confirmed there were no job losses during the transaction.
