A new report suggests that merger and acquisition activity within the gaming industry remained "stable" during the third quarter of 2025

During the third quarter of 2025, the global gaming sector maintained a "stable" expansion, with a total of 49 mergers and acquisitions. Among these was the surprising revelation that Electronic Arts is set to be purchased by a consortium, including Saudi Arabia's Public Investment Fund, Silver Lake, and Affinity Partners, in a deal valued at $55 billion. Additional notable transactions included Sony purchasing a minority interest in Bandai Namco and Aonic acquiring Prime Insights for $250 million.

The Q3 2025 Video Game Market Update by investment firm Aream & Co highlighted a rise in mobile gaming in-app purchases, reaching $21 billion, primarily driven by companies based in Asia.

PC gaming also showed significant strength, increasing by 18% from the previous year due to successful game launches on Steam such as Borderlands 4, Dying Light: The Beast, and Team Cherry's Silksong. Console gaming also saw growth, significantly boosted by the Nintendo Switch 2, resulting in Nintendo's revenue growing by 2.5 times year-on-year, while Sony and Microsoft experienced double-digit growth.

Fundraising through public markets saw a decline, with only $0.3 billion raised through public offerings in the third quarter compared to $10.1 billion in the first half of 2025. Private investment activity was similarly low, with 82 deals made, and Series A funding rounds decreased for the fifth straight quarter. Emerging companies mainly focused on artificial intelligence, e-commerce, and VR and mobile studios, notably in Türkiye.

For additional information, explore the full report by Aream & Co.