A mashup of Jam City's games.
A mashup of Jam City's games.
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Why Jam City canceled its $1.2B SPAC

  • Posted byby Dean Takahashi
  • Updated
  • 3 min

Mobile game publisher Jam City decided to call off its plan to go public via a special purpose acquisition company (SPAC) because of “current market conditions.” Under that plan, Jam City would have been valued at $1.2 billion.

Jam City didn’t offer further comment. The Los Angeles publisher of games such as Cookie Jam and Harry Potter: Hogwarts Mystery had announced in May that it planned to go public through a SPAC operating under the name DPCM Capital. Both companies announced Friday they were terminating their merger agreement because of the market conditions (that is, volatility), and DPCM will evaluate other merger targets.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.