Jam City raises $350M, buys Ludia — L..A. tech news – LA Biz – L.A. Biz

Jam City Inc. is moving on after canceling plans to go public via a reverse merger.
The Culver City mobile games company has raised $350 million in equity and debt financing and moved forward with plans to buy Montreal-based Ludia Inc. for $165 million.
The move comes a couple of months after Jam City announced it wouldn’t be merging with DPCM Capital Inc. as planned. That transaction would have valued the combined company at $1.2 billion and provided proceeds to buy Ludia for $175 million.
Things have changed, however, with Jam City raising its largest round to date from investors including Netmarble, Kabam and affiliates of funds managed by Fortress Investment Group, as well as buying Ludia from Fremantle.
Founded in 2010 by MySpace co-founders DeWolfe and Aber Whitcomb with former 20th Century Fox executive Josh Yguado, Jam City, formerly known as SGN, followed its flagship title “Cookie Jam” and “Panda Pop” with games developed around major IP such as “Harry Potter: Hogwarts Mystery,” “Marvel Avengers Academy,” a couple of “Family Guy” games, “Snoopy Pop” and “Futurama: Worlds of Tomorrow.” The company has key licensing deals with DC and some Disney brands.
Ludia’s portfolio includes original games based brands such as “Jurassic World,” “DreamWorks Dragons” and “Teenage Mutant Ninja Turtles,” as well as upcoming DC and Disney titles.
Here’s what else L.A. tech companies got up to in the past couple of weeks:
© 2021 American City Business Journals. All rights reserved. Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (updated 1/1/21) and Privacy Policy and Cookie Statement (updated 7/20/21). The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of American City Business Journals.

source