Jam City has raised $145 million for its development
$145 million was invested in the mobile developer Jam City. The studio is planning new acquisitions that will accelerate its global growth.
Harry Potter: Hogwarts Mystery
Several banks have invested money in the development of Jam City, including Bank of America Merrill Lynch, JPMorgan Chase, N.A. and the syndicate of SunTrust Bank, CIT Bank and Silicon Valley Bank.
This is the fourth and largest funding round for the studio.
According to its executive director Chris DeWolfe, Jam City will continue to look for new sources of funding. According to VentureBeat, the company may enter an IPO (the first public sale of shares).
We continue to follow our strategy of industry consolidation and company development. Large studios are growing more and more, acquiring more and more. We feel we should do the same. And this funding will allow us to achieve what we want.
Jam City Executive Director
In November, the studio announced the takeover of Glendale Games Studio as part of a long-term partnership with Disney. At the same time, Jam City acquired the Bingo Pop game from the developer Uken Games. The Bingo Pop team continues to work on the game at the new Jam City studio in Toronto.
Jam City is famous for mobile games on popular IP. Among them is the very successful Harry Potter: Hogwarts Mystery.
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