The gaming industry saw investments and M&A activity reach a valuation of $51.5 billion during 2022, falling short of the record $74.5 billion seen in 2021, according to a Thursday report from the video game agency Digital Development Management.
Of the 1,182 transactions monitored by DDM, the biggest drivers came from sales like Take-Two Interactive’s $12.7 billion acquisition of Farmville and Words with Friends publisher Zynga and Sony’s $3.6 billion purchase of Halo developer Bungie. Investments accounted for $13.4 billion across 893 transactions, representing a 67.3 percent year-over-year decline compared to 2021, in part due to inflation and recession concerns, according to the report.
During the fourth quarter, mobile gaming had the largest number of deals compared to other categories like esports and AR/VR. Quarterly M&A activity in the mobile gaming sector included Chess.com’s $81.4 million acquisition of Magnus Carlsen’s Play Magnus and Playstudio’s $97.3 million purchase of Brainium Studios.
As for this year, Microsoft’s proposed $68.7 billion acquisition of Activision Blizzard would “not only be the biggest gaming deal ever, but it would also beat every year besides 2021’s ‘record breaking’ year by value, in one transaction alone,” the DDM report said. The deal has thus far stalled due to pushback from the Federal Trade Commission over antitrust concerns. In the U.K., Microsoft is also set to defend its Activision deal in front of government antitrust officials on Feb. 21.
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February 17, 2023 at 12:00AM
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Gaming Industry Saw $51.5B in Investments, M&A Activity Last Year - Hollywood Reporter
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