Pokemon Go developer Niantic is being acquired by mobile game developer and publisher Scopely for a whopping $3.5 billion. It's been confirmed that all of Niantic's current dev teams, as well as its full portfolio of games – from Pokemon Go itself to Pikmin Bloom and Monster Hunter Now – will all belong to Scopely.

Niantic Labs has announced that it’s selling its video game division to Saudi Arabia-owned mobile developer Scopely for $3.5 billion after struggling to replicate the success of Pokémon Go across its other AR games. The newly inked agreement includes Niantic’s Pokémon Go, Monster Hunter Now, and Pikmin Bloom mobile gaming titles.

Pokemon GO” maker Niantic reached an agreement to sell its gaming business to Savvy Games Group’s subsidiary, Scopely, for $3.5 billion, handing the company backed by Saudi Arabia’s sovereign wealth fund the hit mobile game along with engagement and live-experience apps.