Improbable Strikes $97 Million Deal to Sell The Multiplayer Group
Keywords Studios acquires MPG for $97.1M, expanding its Create division while Improbable focuses on metaverse development and the web3 ecosystem.
Improbable, known for its metaverse technology innovations, announced the sale of its gaming division, The Multiplayer Group (MPG), to Keywords Studios for £76.5 million ($97.1 million). This move enhances Keywords Studios' 'Create' division by incorporating MPG's extensive expertise in multiplayer game development. MPG has collaborated with eminent gaming studios and publishers, including Activision Blizzard, Bethesda, Epic, and 2K.
Growth and Leadership
Born in 2018, MPG has witnessed significant growth, with a worldwide workforce that now extends to over 360 employees. Even post-acquisition, the leadership team, consisting of Andy Norman, Rocco Loscalzo, Vaughan O'Brien, and Roger Cheung, will continue to steer MPG. Their guidance should prove crucial in meeting the growth objectives envisioned for the forthcoming two years, guided by a management incentive plan.
Bertrand Bodson, CEO of Keywords Studios, stated: "We are thrilled to welcome the MPG team to Keywords. MPG is a business that we have long admired for its high-quality work, blue-chip client base, deep experience in developing AAA multiplayer games and its use of technology and data analytics. This acquisition marks a significant step in our strategy to enhance our platform and broaden our services, specifically in the realm of specialized multiplayer game development on a large scale, an area witnessing growing demand in the realm of live services."
As Keywords Studios broadens its reach, Improbable redirects its focus towards the flourishing realm of metaverse development. The firm intends to scale its experimental metaverse events to expand its present capacity.
Digital Revolution: Metaverse and Web3
In their recent annual report, Improbable emphasizes the current relevance of the metaverse and Web3 technologies. The company foresees a shift in gaming that will phase out the boundaries between physical and digital realities.
Herman Narula, Improbable's co-founder and CEO, remarked, "The metaverse is poised for growth in 2024, fueled by the convergence of gaming, VR/XR, and web3 technologies. Headsets like Apple's Vision Pro and the success of Meta Quest 3 will further ignite demand for immersive metaverse experiences. Gaming companies will integrate metaversal elements into their offerings, creating new brand activation opportunities. Consolidation in the gaming and web3 sectors will lead to a stronger, more innovative, and more resilient startup ecosystem, with companies pooling resources and expertise to develop groundbreaking metaverse applications."
Web3 ecosystem development is on the horizon, bringing a scale of maturity and stability unseen in earlier phases. Asia is deemed to emerge as a significant participant, shaping the future across this digital frontier. It is predicted to act as the hub for online communities, digital asset economies, and digital events - a testament to the vital nature of the rapidly evolving technology landscape.
