The largest deals in the gaming industry in the second quarter of 2025
In a recent investment report, Aream & Co. did not list the biggest gaming deals of the first half of 2025 but did compile a list for April-June 2025.
Pokémon GO
The top 5 mergers and acquisitions included:
1. acquisition of Niantic's gaming business by Scopely for $3.5 billion;
2. acquisition of AppLovin's gaming business by Tripledot Studios for $800 million;
3. acquisition of 42.53% of Neptune shares by KRAFTON for $115 million;
4. acquisition of Curve Games by Nazara Technologies for $29 million;
5. acquisition of a stake in Dream Games by CVC Capital Partners for an undisclosed amount (according to Bloomberg, this could involve around $2.5 billion, but Aream & Co. seems to imply a lower figure).
In the private investment segment, Tencent led the way by investing over $80 million in the creators of Helldivers 2. It's worth noting that Aream & Co. attributes this deal to the second quarter of 2025, but in reality, it occurred a year ago. Following Tencent was Goodwater Capital, which invested $25 million in Bigger Games. Closing the top 3 was MM Investment, leading a $21 million funding round for HYBE Interactive Media.
The largest public stock offerings were conducted by GameStop ($2.3 billion), Take-Two ($1 billion), and Bilibili ($690 million).