Jam City secures $145 million to support global growth and acquisition plans
Mobile developer Jam City has secured $145 million in strategic financing to support its various acquisition and 'global growth' initiatives.
The news comes shortly after the Harry Potter: Hogwarts Mystery creator laid off an unknown number of staff as a result of "organizational changes."
It also follows the company's decision to open a new studio in Canada to facilitate the purchase of the Bingo Pop franchise from Uken Games, and the signing of a multi-year development deal with Disney.
Jam City president and COO, Josh Yguado, said the cash injection will also help the LA-based developer expand its core franchises and live game operations.
"Jam City is executing ambitious plans for new game development, expansion of core franchise games, and building the industry’s very best live game operations," commented Yguado.
"Additional investment in our creative and technical operations further position Jam City as the premier partner for IP owners, game development studios, and industry talent worldwide."