Mergers and Acquisitions in the Gaming Industry Remain Steady in Q3 2025

The global gaming industry experienced a relatively stable period of growth during Q3 2025, with a total of 49 mergers and acquisitions recorded. Notably, this includes the recent announcement of Electronic Arts' acquisition by a consortium of investors, comprising Saudi Arabia's Public Investment Fund, Silver Lake, and Affinity Partners, in a deal valued at $55 billion. Other significant transactions include Bandai Namco's sale of a minority stake to Sony and Prime Insight's acquisition by Aonic. According to the Video Game Market Update Q3 2025 report by Aream & Co, mobile gaming revenue from in-app purchases saw an increase to $21 billion during the quarter, largely driven by Asian mobile game publishers. The PC gaming sector also demonstrated strong performance, with an 18% year-over-year increase, attributed to successful releases on Steam such as Borderlands 4, Dying Light: The Beast, and Silksong by Team Cherry. The launch of the Nintendo Switch 2 further boosted console gaming, resulting in Nintendo's revenue growing 2.5 times year-over-year, while Sony and Microsoft posted double-digit growth. However, public market fundraising slowed down, with only $0.3 billion raised through public offerings in Q3 2025, compared to $10.1 billion in the first half of the year. Private investment activity also remained muted, with 82 deals in Q3 2025, and Series A rounds decreased for the fifth consecutive quarter. Startup funding primarily focused on AI, web-shop, and VR and mobile studios, particularly in Türkiye. For a deeper analysis, refer to Aream & Co's comprehensive report.