Want more from Front Office Sports
in your search results?
Jam City, a mobile gaming developer, agreed to go public in a merger with DPCM Capital, a blank-check company founded by former Uber executive Emil Michael.
The move gives Jam City a valuation of $1.2 billion, including debt.
As part of the merger, Jam City is acquiring Canadian video game publisher Ludia from FremantleMedia Canada in a deal valued at roughly $175 million.
Jam City’s highest-grossing mobile games in April, per Sensor Tower:
- “Harry Potter: Hogwarts Mystery” ($3 million)
- “Cookie Jam: Match 3 Games” ($3 million)
- “Bubble Shooter: Panda Pop” ($1.9 million)
The “Harry Potter” title has generated $300 million in revenue since its launch in 2018.
The company’s offerings now include Ludia’s “Jurassic Park” IP. Their mobile “Jurassic World Alive” title brought in $900,000 in revenue and 80,000 downloads in April.
In 2020, Jam City was a top 10 game publisher in the U.S. across the App Store and Google Play. The mobile gaming market is expected to exceed $205 billion in revenue by 2023.
“We expect going public will provide us with a source of capital to accelerate our growth and advance our strategic priorities,” said Jam City chairman and CEO Chris DeWolfe.
Download the FOS App
The business of sports, in your pocket.
Scan the QR code to get the app now.
