In a recent development, metaverse company Improbable has successfully sold its multiplayer gaming venture, The Multiplayer Group (MPG), to London-listed video game developer Keywords Studios for a substantial sum of £76.5 million ($97.1 million). The deal, which was closed on Sunday, marks a significant achievement for both companies.
Keywords Studios, headquartered in Ireland, boasts a portfolio of over 70 studios spread across various global locations including Los Angeles, France, Brazil, Mexico, and Spain. The company primarily focuses on developing games for third-party developers.
While Keywords Studios’ shares have faced a decline of approximately 49% year-to-date, the company has been actively engaged in a series of acquisitions and has allocated €91.9 million ($100 million) toward new takeovers. This strategic approach has resulted in a shift from a net cash position in 2020 to a net debt position of €11.4 million as of June 30, 2021.
Source (CNBC)
