Image via Jam City
Jam City has agreed to sell its Montreal studio Ludia to a group of Canadian investors.
As reported by Venturebeat, the company explained it wasn't actively pursuing a sale but received an unsolicited offer that was too good to refuse.
Jam City co-founder and CEO, Joshua Yguado, confirmed the news on Linkedin and said Ludia will "thrive" as an independent company under the leadership of CEO Jimmy Gendron.
He said the sale represents a great opportunity for both Ludia and Jam City.
The news comes three years after Jam City purchased Ludia after raising $350 million in equity and debt financing.
At the time, Jam City said the deal would help realize its mission of developing and publishing top-grossing titles based on licensed IP.
Ludia is known for working on mobile games such as Jurassic World: The Game, Dragons: Titan Uprising, and DC Heroes & Villains.
Around 130 employees are expected to remain with Ludia following the sale. A small number of workers will stay with Jam City.
The sale means Jam City now has 10 studios around the world. The company, which has generated over $4 billion in aggregate lifetime bookings, laid off around 85 employees in August 2024 after some of its titles underperformed.
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