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DDM: Gaming M&A activity hit $6bn during Q3

The period also saw investment transactions increase by 36% year-over-year across 136 deals

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A new report from Digital Development Management (DDM) reveals that gaming M&A activity hit $6 billion during Q3 across 30 deals.

By comparison, last year's quarter saw acquisitions reach $108 million via 33 transactions.

Q3 2023's M&A jump was attributed to the closure of Savvy Games Group's purchase of Scopely for $4.9 billion and Sega's $775 million acquisition of Angry Birds developer Rovio.

Meanwhile, investments during the quarter grew 36% year-on-year to $965 million, totaling 136 transactions.

Regarding the segment's activity, early-stage investing accounted for $448 million throughout 89 deals—meanwhile, mid and late-stage investments comprised $273 million across eight transactions.

Blockchain gaming investments totaled 34 transactions and brought in $348 million, up 39% year-on-year.

The report noted that the sectors that amassed the most investment value were mobile at 29%, console and PC at 27%, while tech/other made up 26%.

Looking ahead to Q4, DDM took note of Microsoft's acquisition of Activision Blizzard closing and said that it will make 2023 the biggest year for M&A activity.

DDM said, "As the single largest transaction in the video games industry, Microsoft's $68.7 billion acquisition of Activision Blizzard means 2023 is greater than the last two years of M&As combined!"

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Jeffrey Rousseau avatar
Jeffrey Rousseau: Jeffrey joined in March 2021. Based in Florida, his work focused on the intersectionality of games and media. He enjoys reading, podcasts, staying informed, and learning how people are tackling issues.
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