Game acquisitions and fundings make a comeback in Q1 2025

Q1 2025 saw a spike in global gaming M&A activity, with the largest deal being the $3.5bn acquisition of Niantic’s games division by Scopely
This quarter saw 48 deals totalling $4.4 bn, a s w e ll a s 149 p r i v a t e pl a ce m e n t in v es t m e n t s w or t ha d i sc l ose d$ 3.5bn, and four new game funds.
The top investors included Bitkraft, Play Ventures and Andreessen Horowitz, while Krafton, Tencent and Samsung led strategic activity, and Animoca, Spartan and Big Brain were the most active in blockchain gaming.
Scopely’s acquisition of Niantic is the largest deal since Savvy acquired Scopely itself for $4.9bn in 2023.
Key M&A targets for the rest of 2025 are expected to include Savvy/Scopely, Tencent, Krafton, Keywords Studios/EQT, Jagex/CVC, Infinite Reality, Sony and Asmodee.

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