New Local Ownership to Support Growth, with 50 Jobs Created and Acquisitions Planned
MONTRÉAL, March 4, 2025 /CNW/ - Montréal-based video game studio Ludia is back in Canadian hands following a buyout led by local shareholders and members of its senior management team. The acquisition from U.S.-based Jam City was finalized in recent days, marking a significant milestone for the studio.
As part of this transition, Jimmy Gendron has been appointed Chief Executive Officer, tasked with steering Ludia into a new era of growth and innovation.
"This return to independence marks the beginning of an exciting new chapter for Ludia. I am thrilled about our future, driven by the talent of our team and the support of top-tier financial partners. We now have the opportunity to bring an ambitious vision to life, delivering games that captivate millions of players worldwide," said Gendron.
Additionally, Alexandre Thabet, who founded Ludia back in 2007, is rejoining the company as a shareholder and will serve as Chairman of the Board.
"It is with great emotion and immense pride that I take part in this announcement today. Thanks to local financial backing and one of the most experienced leadership teams in Canada's mobile gaming industry, Ludia is poised to move towards its ambitions for the future," added Thabet.
This transaction is backed by major investors, including Fonds de solidarité FTQ, Investissement Québec, BDC Capital Growth Equity Partners, Export Development Canada (EDC), and Groupe W, with additional support from National Bank. Dominic Bécotte, Ludia's former Chief Financial Officer, also played a key role in the transaction as a consultant.
A Promising Future for Ludia
With its return to Canadian ownership, Ludia has become the largest independent mobile game studio in the country, further solidifying Montréal and Quebec's position as one of the world's top video game hubs. The company's headquarters, located in the heart of Old Montréal, currently employ over 130 people.
Driven by a growth-focused business plan, Ludia aims to create 50 new jobs over the next year while developing new games. With the backing of its financial partners, the company also intends to explore new acquisition opportunities to fuel its expansion.
Quotes
"Investissement Québec is proud to help bring Ludia's ownership back to Québec. As a key player in the video game industry, Ludia now has the flexibility to grow and expand internationally while remaining firmly rooted locally. By investing $18,2 million in the company, Investissement Québec is fulfilling its mission to support Québec excellence in key sectors of our economy and foster the creation of world-class champions right here at home."
— Claude Farrier, Executive Vice President, Private Equity, Investissement Québec
"Thanks to the leadership of Jimmy Gendron and Alexandre Thabet, Ludia is returning to its Québec roots. We are proud to partner with them to support the continued growth of a mobile gaming industry leader founded here in 2007. The Fonds' investment reflects our commitment to backing local entrepreneurs and growing Québec businesses. Having an engaged and experienced leadership team in place is a major asset—not only for Ludia but also for the future of Québec's entertainment industry."
— Saloua Benkhouya, Vice President, Private Equity and Impact Investments, Entertainment and Services, Fonds de solidarité FTQ
"EDC is thrilled to support Ludia's return to Canada and its promising next phase of growth. With its roots in Québec, Ludia has established itself as a leader in the mobile gaming industry, captivating global audiences with its innovative creations. EDC's investment will help the company achieve its ambitious goals and showcase the strength of Canada's digital industry on the world stage."
— Guillermo Freire, Senior Vice President, Mid-Market Group, EDC
"BDC Growth Equity Partners is proud to join forces with Alex Thabet, Jimmy Gendron, and his team to mark this new chapter in Ludia's growth. Together, we share the ambition of building a world-class Canadian company. With our extensive experience in this industry, we firmly believe that Ludia, being based in Montréal, can leverage a deep talent pool, an innovative environment, and strong support to drive its development forward. The company is well-positioned for a bright and prosperous future."
— Maxime Tourangeau, Partner and Regional Team Lead, Growth Equity Partners, BDC Capital
"This is a unique opportunity to invest alongside seasoned professionals who have demonstrated their ability to create successful games. We also seized the chance to bring a company back to Québec ownership—an action that strengthens our local economy and preserves our expertise in this industry."
— Nicolas Bélanger, Founder and Partner, Groupe W Investissements
About Ludia
Founded in 2007, Ludia is the largest independent mobile game studio in Canada. The studio has established itself as a key player in the industry by developing over 50 games based on popular franchises and original licenses, including Jurassic World Alive, Jurassic World: The Game, Dragons: Rise of Berk, Teenage Mutant Ninja Turtles: Legends, Family Feud, and many more.
Since its inception, the studio has generated over CAD 1.3 billion in revenue, with more than 500 million downloads, and attracts over 3.5 million players each month.
Recognized by Apple as "Canada's Best Game Maker," Ludia has also been named among GamesIndustry.biz's "Best Places to Work 2018" and "Montréal's Top Employers 2021." The company employs over 130 people at its headquarters in Montréal.
For more information, visit www.ludia.com.
SOURCE Ludia
For any inquiries: Louis-Martin Leclerc, TACT, 418 693-2425, [email protected]
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