The number of gaming M&A has reached its highest point since 2022, according to analytics
Analysts at Aream & Co. prepared a report on gaming deals in the second quarter of 2026. According to their observations, the investment market significantly revived during this period.
Mortal Shell 2
As calculated by Aream & Co., gaming-related companies made a total of 187 deals over the quarter, including finalized agreements and announcements. Compared to the previous year, the number increased by 16.2%. However, their overall value decreased by 29% to $7.1 billion.
Below is a more detailed look at the main types of deals.
Mergers and Acquisitions (M&A)
- From April to June 2026, there were 54 M&A deals in the gaming industry. This is the best result since the third quarter of 2022, when 65 such deals were reported.
- The total value of gaming M&A over three months was $2.3 billion, a 37.8% year-on-year decrease.
- The largest deal was NeoPulse's acquisition of a stake in South Korean developer Wemade (Mir 4, Legend of YMIR) for $597 million. The second largest was the sale of 84.5% of publisher Playstack (Balatro, Abiotic Factor, and Mortal Shell) to investment firm Integrated Media Company for $142 million.
Public Offerings
- Activity in the public offerings segment also increased—during the second quarter of 2026, companies issued or announced the issuance of their securities on the stock exchange 25 times. This level had not been reached since 2021.
- However, similar to M&A, the overall monetary volume of public offerings fell significantly—by 72% to $1.7 billion.
- The key event in the segment was the IPO of the marketing platform Liftoff, during which it raised $503 million.
Private Investments
- In the second quarter of 2026, there were 108 private investment deals. This is a standard level for the past year.
- However, the amount of private investments increased significantly. It jumped 492% compared to last year, reaching $3.1 billion. The growth was mainly driven by investments related to AI, which accounted for two-thirds of all funds.
- The largest investment was attracted by AppsFlyer, which received over $1 billion from Google, Unity, Meta*, and Moloco.
*Meta is recognized as an extremist company in Russia, and its activities are banned within the country.