Jordan Bevan
2022 started the year with a bang, already exceeding the entire deal value of the full year 2021 with a massive $98.7 billion in total value of announced ad / or closed deals for Q1 22. That is according to new research from Drake Star Partners.
In the full year 2021, dealmaking activity in the game industry had reached $85 billion in total deal value across 1,159 transactions, up almost 3x as compared to 2020.
In Q1 2022, the gaming industry reached massive $92.6M in M&A activity across PC / console, mobile and esports, while VCs and strategics invested $3.4B in private companies through 287 deals, a record-breaking quarter for number of deals completed.
Mobile has once again become the biggest segment in terms of number of M&A deals in Q1 2022, with 28. However, PC/Console became the top segment in M&A deal value with $72.9 billion.
1.2 billion was raised by private blockchain / NFT gaming companies with the largest rounds raised by Animoca Brands, Immutable, and New Sin City, while the most active investors were Animoca Brands, Alameda Research / FTX, and Shima Capital
Record number of new and follow-on funds focused on gaming and crypto space, including FTX’s $2B fund, Griffin Gaming Partners’ $750M fund, Makers’ $500M fund, Hiro Capital’s $340M fund, Gumi Crypto $110M and many more.
Notable M&A Deals of Q1 2022
+ Microsoft announced the $68.7 billion acquisition of Activision.
+ Take-Two announced plans to acquire Zynga for $12.7 billion.
+ Sony announced its $3.6 billion acquisition of Bungie, the developer of Destiny.
+ Netflix announced the acquisition of Next Games
Notable Transactions of Q1 2022
+ Animoca Brands raised $358.8 million at a $5 billion valuation
+ Istanbul’s Dream Games raised $255 million at a $2.75 billion valuation
+ Tripledot Studios raised $116 million at a $1.4 billion valuation
In Q1 2022, public market activities generated a deal value of 2.7 billion across 14 deals. Azerion completed its $1.5B SPAC deal with European FinTech IPO Company 1, raising $105M of proceeds. Nexon announced the completion of a $883M PIPE from The Public Investment Fund of The Kingdom of Saudi Arabia.
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