Improbable Strikes $97 Million Deal to Sell The Multiplayer Group
Improbable, known for its metaverse technology innovations, recently announced the sale of its gaming division, The Multiplayer Group (MPG), to Keywords Studios for £76.5 million ($97.1 million). This move is set to bolster Keywords Studios’ ‘Create’ division by incorporating MPG’s extensive expertise in multiplayer game development. MPG has previously worked with renowned gaming studios and publishers, including Activision Blizzard, Bethesda, Epic, and 2K.
Founded in 2018, MPG has experienced significant growth, with a global workforce of over 360 employees. Even after the acquisition, the leadership team, composed of Andy Norman, Rocco Loscalzo, Vaughan O’Brien, and Roger Cheung, will continue to lead MPG. Their guidance will be crucial in achieving the growth targets set for the next two years, guided by a management incentive plan.
Commenting on the acquisition, Bertrand Bodson, CEO of Keywords Studios, expressed excitement about welcoming the MPG team to Keywords. He emphasized that the acquisition marks a significant step in their strategy to enhance their platform and expand their services, particularly in specialized multiplayer game development.
As Keywords Studios expands its reach, Improbable is refocusing its efforts on metaverse development. The company intends to scale its experimental metaverse events to expand its current capacity.
In their recent annual report, Improbable highlights the relevance of metaverse and Web3 technologies, anticipating a shift in gaming that blurs the lines between physical and digital realities. Herman Narula, Improbable’s co-founder and CEO, believes that the metaverse is poised for growth in 2024, driven by the convergence of gaming, VR/XR, and web3 technologies.
Narula also envisions the integration of metaversal elements into gaming offerings, creating new brand activation opportunities. The consolidation in the gaming and web3 sectors is expected to lead to a stronger and more resilient startup ecosystem, with companies pooling resources to develop groundbreaking metaverse applications.
The development of the Web3 ecosystem is said to bring a level of maturity and stability unseen in earlier phases, with Asia poised to become a significant player in shaping the digital frontier. It is predicted to act as the hub for online communities, digital asset economies, and digital events, underscoring the rapidly evolving nature of the technology landscape.
Overall, Improbable’s sale of The Multiplayer Group to Keywords Studios reflects the company’s strategic realignment to the metaverse while enabling Keywords Studios to expand its capabilities in specialized multiplayer game development. The deal exemplifies the evolving tech landscape and the growing importance of metaverse and Web3 technologies in the gaming industry.