Article contributed by Callum Turcan, M&A Writer and Valuation Specialist at Corum Group
Well-executed mergers and acquisitions are rapidly becoming key catalysts for innovation and growth across industries. With every strategic deal, companies are entering new markets, broadening their capabilities and engaging with audiences on a truly global stage.
So, what does this mean for the Gaming sector?
M&A activity remains strong. In the first nine months of 2025 alone, 156 Tech M&A deals in the Gaming sector have been announced. If this momentum holds, total deal volumes will land close to 2023 and 2024 levels.
It reflects an increasingly fast-paced, competitive landscape—one fueled by well-capitalized buyers eager to secure innovation. These acquirers are pursuing growth by targeting companies with cutting-edge technologies, robust product ecosystems and dedicated user communities—and they’re prepared to invest, often offering compelling valuations and favorable deal structures.
Tech M&A is no longer just about scale. It’s about staying ahead in a market where innovation has become the most valuable currency.
In 2025, the six trends driving M&A activity in the Gaming sector include mobile gaming, online gambling, AI, game portfolio expansion, esports and blockchain.
Starting with our first trend, mobile gaming. Causal gaming offerings are popular among consumers and often played on mobile devices, with companies eager to take advantage of free-to-play business models. Showcasing this trend, NextBeat, a music-first gaming studio that incorporates music with engaging mobile gameplay, was acquired by Duolingo in August to enhance its gamified learning experiences and strengthen its music courses.
Moving on to our second trend, online gambling. Not everyone needs to visit a casino to enjoy gambling as companies offer a wide array of gaming services that are accessible through PCs, laptops and mobile devices. Illustrating this trend, LBC, an online gaming, wagering, and payment systems platform, was sold to Apple iSports in July to position the company to become a competitive player in the US online gambling services ecosystem.
Shifting to our third trend, AI. Enterprises are using AI to speed up game development schedules through coding assistance tools and to create more immersive in-game experiences that adapt based on player actions. Highlighting this trend, Light Hour Games, a full-stack studio that builds and markets mobile casual games using AI-first workflows, was scooped up by GDEV in August to provide the necessary resources to support its development roadmap.
Shifting to our fourth trend, game portfolio expansion. Larger studios and major publishers are leveraging their financial resources to acquire high-quality titles that can be further monetized, setting the stage for future IP development. Showcasing this trend, Honeyland, a blockchain-based game with traction in the Web 3.0 space, was acquired by BRAVO READY in July to complement its portfolio of revenue-generating video games.
Our fifth trend is esports. Just as households enjoy watching their favorite sports team play and win, many gamers across the globe tune in weekly to watch competitive esports competitions and listen to player interviews. Illustrating this trend, OG Esports, an esports organization with teams that compete in the most popular games of the day, sold a majority 51% stake to The Chiliz Group in September to bolster fan engagement and expand its presence.
Lastly, our sixth trend is blockchain. Companies are using this technology to reward players with digital offerings, including in-game items and alternative digital currencies, effectively enabling users to monetize their in-game actions while creating ample monetization avenues for firms. Highlighting this trend, Jet5, a blockchain game development company, was picked up by NEXUS in September to launch innovative tokenization across a wide range of game genres.
Gaming, both casual and competitive, remains one of the most popular forms of entertainment worldwide. Buyers are sitting on trillions of dollars that must be deployed, and they are eager to grow their exposure to this enormous industry.
