Consolidation is coming to gaming, and Jam City raises $145 million to capitalize on it

A slew of banks are coming together to back a new roll-up strategy for the Los Angeles-based mobile gaming studio Jam City and giving the company $145 million in new funding to carry that out.There’s no word on whether the new money is in equity or debt, but what is certain is that JPMorgan Chase Bank, Bank of America  Merrill Lynch and syndicate partners, including Silicon Valley Bank, SunTrust Bank and CIT Bank, are all involved in the deal.“In a global mobile games market that is consolidating, Jam City  could not be more proud to be working with JPMorgan, Bank of America Merrill Lynch, Silicon Valley Bank,  SunTrust Bank and CIT Group to strategically support the financing of our acquisition and growth plans,” said Chris DeWolfe, co-founder and CEO of Jam City. “This $145 million in new financing empowers Jam City to further our position as a global industry consolidator. As we grow our global business, we are honored to be working alongside such prestigious advisers who share Jam City’s mission of delivering joy to people everywhere through unique and deeply engaging mobile games.”