Jam City Announces the Sale of Ludia Entertainment
By Montreal-based mobile developer appoints Jimmy Gendron as CEO as part of transition
The mobile gaming firm Jam City has initiated the process of selling its Montreal-based developer Ludia.
The company reached an agreement with a group of Canadian investors and members of Ludia’s senior leadership team to dispose of the studio along with its collection of games.
Jam City stated that while it was “not actively pursuing a sale,” it was “presented with an enticing proposal to purchase the studio.”
It specified that the acquisition “is not anticipated to significantly affect” its overall business operations, and its forthcoming lineup of releases “remains unchanged.”
The deal was supported by investors including Fonds de solidarité FTQ, Investissement Québec, BDC Capital Growth Equity Partners, Export Development Canada, and Groupe W, along with additional support from National Bank. Ludia’s former CFO Dominic Bécotte also acted as an advisor during the acquisition process.
Ludia will now function as an independent developer and has appointed Jimmy Gendron as CEO, who will oversee approximately 130 employees.
A small number of Ludia staff will continue to work at Jam City to assist with titles that remain affiliated with the gaming company.
Ludia founder Alexandre Thabet is also rejoining the company after the acquisition as a shareholder and will serve as the chairman of the board.
“We are extremely proud of Ludia’s achievements