DDM Games Investment Review

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Latest Report

Q2’s $784M Investments/M&As Marks Full-Year Decline

H1 2023 is the weakest since 2016 while 2023 could bounce back with record-breaking H2

Over the last year, the games industry withstood macroeconomic headwinds of high inflation and recession fears, a prolonged crypto winter, bank failures, and slower global economic growth. As a result, games investments and M&As in Q2 2023 have marked four quarters or a full year of decline in value and volume.

H2 is looking to rally to a record-breaking year after Savvy Games Group’s $4.9B Scopely acquisition closed in July (Q3) and as Microsoft’s $68.7B acquisition of Activision Blizzard is closer to regulatory approval and looking likely to close in Q3.

In our report, we also highlight big stories that impact the industry, including:

• Microsoft Steps Closer to Acquiring Activision Blizzard
• Blockchain Slammed by Regulations Making Blockchain Game Investors Flee
• AI in Games: The New Wave with Legal Complications
• Embracer Group’s Halt in Acquisitions Sends Ripples Throughout Industry

We’re excited coverage continues from Forbes, GamesIndustry.biz, and Deadline Hollywood. Read more in our free summary or full paid reports.

Games Investments by Segment Q2 2023

Source: DDM Games Investment Review

Top 5 Private Investments Q2 2023

Category Date Company Value ($M) Stage Company Description Country
MCG 25 Apr 23 Everdome 50.0 Early Blockchain games and metaverse developer UAE
Tech/Other 27 Jun 23 Anzu 48.0 Mid/Late In-game advertising/analytics services provider Israel
MCG 27 Jun 23 Mythical Games 37.0 Mid/Late MMO game/blockchain developer and blockchain economy solutions provider USA
eSports 19 May 23 Nodwin Gaming 28.0 Mid/Late eSports production services provider India
eSports 27 Apr 23 TEG 27.7 Early eSports entertainment and gaming facilities provider Japan

Source: DDM Games Investment Review

Games M&A by Segment Q2 2023

Source: DDM Games Investment Review from Disclosed Transactions

Top M&As Q2 2023

Category Date Company Acquirer Value ($M) Company Description Country
Tech/Other 30 May 23 Wargraphs M.O.B.A. Network 53.6 Games data analytics platform developer and service provider France
Console/PC 15 May 23 Night Dive Studios Atari 19.5 Console/PC games and game engine developer USA
Console/PC 11 May 23 Hardsuit Labs Keywords Studios 15.0 Console games developer and service provider USA
eSports 09 Jun 23 Tiidal Gaming Group (Sportsflare asset) Entain Group 9.9 eSports organization and betting services provider Canada
Console/PC 06 Apr 23 Nukklear Jumpgate 7.1 Console/PC games developer and service provider Germany

Source: DDM Games Investment Review

Q1 Vs Q2 2023

Source: DDM Games Investment Review

H1 2022 Vs H1 2023

Source: DDM Games Investment Review



Investment and M&A

The DDM GIR is the industry’s longest-running dataset, covering over fourteen years of meticulously tracked video game industry investment and M&A data updated daily. Data points include industry sector, region, investment round, investors and acquirers and many other demographic criteria.

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