Jam City to Sell Ludia
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News/Jam City to Sell Ludia
Jam City to Sell Ludia
Mobile game company Jam City has announced the sale of its Montreal-based studio, Ludia, to a group of Canadian investors and members of Ludia's senior management team.
Although Jam City was "not actively seeking a sale," the company stated it was presented with a "compelling offer" to acquire the studio and its portfolio of titles. The company clarified that the transaction "is not expected to significantly impact" its overall business, and its upcoming release pipeline "remains unchanged."
The deal was supported by investors such as Fonds de solidarité FTQ, Investissement Québec, BDC Capital Growth Equity Partners, Export Development Canada, and Groupe W, with additional backing from National Bank. Dominic Bécotte, Ludia's former CFO, also acted as a consultant during the buyout process.
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Moving forward, Ludia will operate as an independent entity, with Jimmy Gendron appointed as CEO to lead the company’s team of approximately 130 employees. A small number of Ludia staff will stay on at Jam City to continue supporting titles that remain with the games firm. Ludia's founder, Alexandre Thabet, is rejoining the company as a shareholder and will serve as chairman of the board.
"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."
Jam City to Sell Ludia
Mobile game company Jam City has announced the sale of its Montreal-based studio, Ludia, to a group of Canadian investors and members of Ludia's senior management team.
Although Jam City was "not actively seeking a sale," the company stated it was presented with a "compelling offer" to acquire the studio and its portfolio of titles. The company clarified that the transaction "is not expected to significantly impact" its overall business, and its upcoming release pipeline "remains unchanged."
The deal was supported by investors such as Fonds de solidarité FTQ, Investissement Québec, BDC Capital Growth Equity Partners, Export Development Canada, and Groupe W, with additional backing from National Bank. Dominic Bécotte, Ludia's former CFO, also acted as a consultant during the buyout process.
More:Apex Legends Players Targets EA
Moving forward, Ludia will operate as an independent entity, with Jimmy Gendron appointed as CEO to lead the company’s team of approximately 130 employees. A small number of Ludia staff will stay on at Jam City to continue supporting titles that remain with the games firm. Ludia's founder, Alexandre Thabet, is rejoining the company as a shareholder and will serve as chairman of the board.
"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."
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