Games industry mergers and acquisitions have reportedly hit US$2.3 billion for Q2 2026, representing 54 transactions, many of which have taken place behind closed doors.
The news arrives courtesy of the Video Game Market Update of Aream & Co, a boutique investment bank analysing trends shaping global finances (via GamesIndustry).
As this report notes, these latest results for the games industry are significant. Mergers and acquisitions are now at a ‘post-pandemic’ high, with dealmaking matching that of the Covid-era boom.
Games industry M&As – quick links
Games industry merger and acquisition breakdown
According to Aream & Co, mid-market gaming content acquisitions drove this growth, representing deals over US$100 million.
The biggest transaction noted was the US$1 billion acquisition of Loom Games by Scopely, a mobile-first game studio owned by the Saudi Arabian government through its Savvy Games Group subsidiary. The proposed acquisition of Playstack (publisher of Balatro) by Integrated Media Company (GameSpot, Fanatical, Fandom, Screen Junkies) also contributed, as well as other major deals in the mobile market.
Private investment reportedly continued to ‘surge’ across the games industry in the reporting period, with year-on-year results noted as being up six times, driven by interest in AdTech and gaming AI ‘mega-rounds’. Companies benefitting from these investments include AppsFlyer, General Intuition, Odyssey, and Decart.
In its wider analysis of the global games industry, Aream & Co also noted an array of other trends.
Financial trends in the games industry of 2026
Aream & Co reports that PC gaming on Steam remained a strong segment in the market, with spending up 13% year-on-year, rising to US$5.5 billion. Franchise sequels drove plenty of this engagement, with 007: First Light, Subnautica 2 and Forza Horizon 6 noted as key successes.
The report also identified new IP as a swiftly growing segment, driven by the release of Capcom’s Pragmata, as well as indie multiplayer game Meccha Chameleon and the wildly popular PvE pirate survival adventure, Windrose.
Nintendo revenue was also reportedly a key driver in Q2 2026, with revenue rising 90% year-on-year due to the arrival of the Nintendo Switch 2 and its associated games.
PlayStation revenue reportedly fell 5% due to a slow-down in hardware, likely driven by price rises and the aging of its console systems. Xbox revenue declined 7%, with a reported 33% drop in hardware and a 5% decrease in content and services.
The Aream & Co data reveals that video games remain big business, although areas of investment and interest may be shifting, and some companies are currently facing a downturn. Regardless, dealmaking is seemingly at a significant high, with select investors still seeing value overall.
Also on ScreenHub: Australian spending on video games rose 12% in 2025 to $4.2 billion
Australian consumer sales for video games rose 12% in 2025, accounting for a spend of over $4.2 billion across the country. The data was reported in IGEA’s annual consumer sales results, analysing growth and opportunity within Australia and also New Zealand, where video game sales have also risen, by 9%.
This trend is significant, with a sustained growth of 4.8% also predicted between 2025 and 2028, with the IGEA report stating that ‘Australians’ passion for playing video games remains robust across all formats’. As shared by IGEA, digital video game sales remain the highest performing category overall, although traditional retail sales also saw growth.
In 2025, digital video game sales accounted for $1.42 billion of all spending on video games, up 8% year-on-year. The vast majority of this spending – $717.6 million – was on in-game purchases, while $527.9 million was spent on full games.
Read more …
