2025年第三季度全球游戏报告(英）

Drake Star Securities LLC is regulated by FINRA and is a member of SIPC. All securities in the UK, are transacted through Drake Star UK Limited (FRN 942020) an appointed appointed representative of Razlin Ltd (FRN 730805), which is authorized and regulated by the FCASALE TOMobile / Online GamingVideo Game / Content StreamingSALE TOAAA Game DeveloperPower RangersMobile / Console GamesMobile GamesGame Review and AdvertisingSALE TO* Transactions executed by current Drake Star Partners employees while employed at other firms2 ******PartnerLos Angelesmohit.pareek@drakestar.comLinkedin - Free social media iconsPartnerBerlinjulian.riedlbauer@drakestar.comLinkedin - Free social media icons**Managing PartnerLos Angelesmichael.metzger@drakestar.comLinkedin - Free social media icons*3Source: CapIQ, Pitchbook & DSP ResearchNote: Drake Star did not act as financial advisor on transactions listed on this page. Deal count includes announced and / or closed M&A, private placement, IPOs, SPACs, and public financing deals. Public Markets include IPOs, SPACs, and public financings.Public MarketsPPM&A•The rebound in public gaming equities is paving the way for a surge in gaming M&A through 2026, as strategics are seizing the opportunity to capitalize on higher valuations and fuel bold inorganic growth to sustain investor momentum.•PE momentum in gaming shows no signs of slowing, with major funds eyeing public gaming companies for take-privates and top private studios becoming prime acquisition targets for growth-focused investors. With the resurgence of growth financing for mobile game studios in Q3’25, we are optimistic that funding activity across the gaming sector will continue gaining momentum in the coming quarters. AI and tools continue to be hot sectors.•We expect Coffee Stain Group to complete its IPO following the spin-off from Embracer by year-end and remain optimistic about the prospects for a strong Discord listing in 2026. •EA’s announced $55B buyout by the Saudi Arabia’s PIF / Silver Lake consortium, the largest leveraged buyout in history, made Q3’25 a landmark quarter for gaming M&A.•Overall gaming M&A activity increased to 50 deals in Q3’25, the highest count in four quarters! Notable transactions included Aonic’s $250M acquisition of Prime Insights, KRAFTON’s $96M purchase of Eleventh Hour Games, DoubleDown’s $76M deal for WHOW Games, and Impact46’s $53M buyout of Kammelna.•After a year-long slowdown, Q3’25 saw a recovery with 115 private financing rounds, the first increase since Q1’24. Notable rounds included Lingokids ($120M), Good Job Games ($60M), Appcharge ($58M), Million Victories ($40M), Kong Studio ($36M), and Distinct Possibility Studios ($31M).Interest in growth financings for mobile studios surged again in Q3, with five of the largest rounds going to mobile game developers.•Most active investors over the past year included BITKRAFT, Play Ventures, and Griffin Gaming Partners among larger funds, while Impact