Keywords Studios Expands Portfolio with £76.5m Acquisition of The Multiplayer Group

In a significant move, Keywords Studios has acquired The Multiplayer Group from Improbable for a substantial £76.5 million. This strategic acquisition, announced today, sees the Nottingham-based studio become the latest addition to Keywords' diverse portfolio. The purchase price will be settled in cash, utilizing Keywords' existing revolving credit facility. Founded in 2018, The Multiplayer Group has established itself as a specialist in multiplayer game development, providing full and co-development services. Its impressive portfolio includes collaborations on renowned titles such as Fall Guys, Call of Duty: Modern Warfare 2, Mortal Kombat 1, and Starfield. Following the acquisition, The Multiplayer Group's leadership team will remain intact, with key figures including CEO Andy Norman, CTO Rocco Loscalzo, COO Vaughan O'Brien, and CBO and VP of future development Roger Cheung continuing in their roles. According to Keywords Studios CEO Bertrand Bodson, this acquisition marks a crucial step in expanding the company's platform and enhancing its capabilities in large-scale, specialized multiplayer game development, an area of increasing demand within the live services sector. Bodson expressed his enthusiasm for the integration of The Multiplayer Group, highlighting its complementarity to Keywords' existing high-quality studios in the UK and globally. Andy Norman, CEO of The Multiplayer Group, emphasized the studio's passion for multiplayer game development, underpinned by expertise, customer-driven collaboration, and a commitment to a sustainable, people-first culture. Norman welcomed the opportunity to collaborate with Keywords, anticipating that the partnership would drive innovation and growth in the multiplayer space. This acquisition follows Keywords Studios' earlier purchase of US developer Hardsuit Labs, a Seattle-based studio known for its work on prominent titles such as Call of Duty, Gears of War, and Fortnite. Improbable's decision to sell The Multiplayer Group reflects its broader strategy of divesting its games businesses to focus on the metaverse, following the sale of its defence subsidiary earlier this year.