Consolidation in the games industry reached record highs in the first quarter of 2022, nearing almost $100 billion.
Between January and March, the total value for reported deals closed was $98.7 billion spread across 387 transactions, as per new research from Drake Star Partners.
The total was fueled by some huge standalone deals, including Microsoft's $68.7 billion pending acquisition of Activision Blizzard, Take-Two's acquisition of Zynga for $12.7 billion, and Sony's $3.6 billion Bungie deal -- all of which took place in January.
VCs and strategic investment among private companies also reached $3.4 billion across 287 deals. The most active VCs included Bitkraft, Sequoia, Makers Fund and Griffin Gaming.
M&A in Q1 2022 alone has outperformed activity for the whole of 2021, which reached $85.4 billion across a much higher 1,159 deals.
In its 2022 outlook, Drake Star calls Q1 "only the beginning of a historic era of both consolidation and diversification in the industry," and predicts that it may see deal volume in excess of $150 billion for the full year.