In the first half of 2026, Chinese gaming companies entered into over 40 M&A deals
Gaming companies from China engaged in mergers and acquisitions (M&A) at an impressive pace during the first six months of 2026. This conclusion was reached by Youxi Tuoluo, which analyzed activity in the local market.
Black Myth: Wukong
- According to Youxi Tuoluo's calculations, Chinese game developers and publishers completed 43 such deals in six months.
- The total value of these deals exceeded 60 billion yuan, or approximately 8.86 billion dollars.
- The most expensive deal was Savvy Games Group's acquisition of the Shanghai studio Moonton, valued at 6 billion dollars.
- Predictably, one of the most active investors was Tencent. Within half a year, the Chinese giant acquired stakes in at least three teams: Game Science (creators of Black Myth: Wukong), FireWo Games (creators of The Bustling World), and Hungry Studio (creators of Block Blast!). However, the latter deal is not yet closed.
- Among other major companies involved in M&A during this period were NetEase, miHoYo, Giant Network, and 37 Interactive Entertainment.
- Approximately half of the studios that were either wholly or partially sold were established within the last two years.
- 21 deals involved studios founded by experienced developers who previously worked at major companies or participated in creating well-known games.
- Chinese companies mostly acquired minority stakes, meaning stakes of less than 50%. There were only four acquisitions of controlling stakes and takeovers.