Data Points: Top 10 M&As in Video Games Q4 2023

Source: DDM Games Investment Review Executive Summary Report Q4 + Annual 2023

Top 10 M&As in Video Games Q4 2023:

  1. Activision Blizzard
  2. CoreWeave
  3. nDreams
  4. Improbable (The Multiplayer Group asset)
  5. Playsimple Games
  6. Shift Up
  7. Snowprint Studios
  8. System Era Softworks
  9. Fall Damage
  10. Digital Eclipse

Q4’s $69.9B M&As Propelled by Microsoft’s Acquisition of Activision Blizzard

Q4 2023 M&As totaled $69.9B across 42 transactions (+1037% in value and a +36% in volume compared to Q3’s $6.1B across 31 transactions); this 11x increase in value was due to Microsoft’s $68.7B acquisition of Activision Blizzard which represented 98% of the quarter’s value which is not only the single largest transaction in video games history but pushed 2023 to be greater than the last two years of M&As combined.

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