Jam City acquires Fremantle’s Ludia
September 9, 2021
RTL Group has announced that its global content business, Fremantle, has completed the sale of its 100 per cent shareholding in Ludia to US-based mobile entertainment company Jam City for $165 million (€139 million).
In 2009, Fremantle acquired an initial stake of 29 per cent in Ludia, before increasing its shareholding to 100 per cent between 2010 and 2014 for a total consideration of €33 million. Under Fremantle’s ownership, Ludia has achieved substantial growth, doubling its revenue since 2013.
In a press statement, RTL Group said: “The sale of Ludia – one of Canada’s leading mobile video game companies – is consistent with [our] strategy of three priorities: core, growth, alliances & partnerships. The strategy includes continuously reviewing [our]portfolio and growing [pur] European digital businesses in the areas of streaming and advertising technology, alongside [our] global content business, Fremantle.”
In August 2021, RTL Group announced that it aims to increase Fremantle’s full-year revenue to €3 billion by 2025. To reach this target and to keep up with the increasing demand for content, RTL Group says it will significantly invest in Fremantle – both organically and via acquisitions – in all territories across scripted, non-scripted as well as factual shows and documentaries.