Gaming M&A deal count down 60% YoY per Drake Star report

In Q3 2023, gaming companies announced 33 M&A transactions worth roughly $5 billion according to Drake Star’s latest report. While announced deal value is up compared to recent quarters, the quarter had the lowest number of transactions since Q1 2021. Compared to the same quarter of last year, the number of announced deals fell 60%.

“The low number of M&A transactions reflects the uncertainty in the market and depressed public gaming company valuation,” Michael Metzger, Partner at Drake Star, told GamesBeat. He noted that smaller and mid-sized companies often see a lag between initiating and closing a deal, which could account for the dip in announced deals.