2022年第一季度游戏报告（英）-21页_2mb

Global Gaming Report Q1 2022 Summary

Core Content Overview

Q1 2022 marked a record-breaking quarter for deal activity in the gaming and esports industry, with $98.7B in total deal value and 86 announced/closed M&A deals. This reflects a significant surge in industry consolidation, with notable acquisitions and private placements across various segments.

Key Highlights

M&A Activity

• $93B in disclosed deal activity, including major acquisitions:

  • Microsoft acquired Activision Blizzard for $68.9B, positioning itself as the third-largest gaming company by revenue.
  • Take-Two Interactive acquired Zynga for $11.8B, enhancing its mobile game publishing capabilities.
  • Sony acquired Bungie for $3.6B, gaining access to the Destiny franchise and live service expertise.
  • Savvy Gaming Group acquired ESL and FACEIT for $1.5B, combining esports infrastructure and competitive game tools.
  • Tencent acquired Black Shark for $470M, expanding its presence in gaming-focused mobile hardware.
  • Stillfront acquired 6waves for $201M with an additional $100M earn-out, strengthening its position in the East Asian market.

• Deal Valuation Trends:

  • Revenue Multiples: Median of 3.5x (Total) and 2.5x (At Close)
  • EBITDA Multiples: Median of 12.8x (Total) and 8.9x (At Close)

Private Fundraising

• $3.4B in private placements across 287 deals, with $1.2B raised by blockchain/NFT gaming companies.

• Major private fundraising rounds:

  • Dream Games raised $255M at a $2.8B valuation.
  • Thatgamecompany raised $160M at a $1.5B valuation.
  • Tripledot Studios raised $116M at a $1.4B valuation.
  • Zupee raised $102M at a $600M valuation.
  • Immutable raised $200M at a $2.5B valuation.
  • Animoca Brands raised $359M at a $5.4B valuation.

• Top Investors in Private Deals:

  • Bitkraft, Sequoia, Makers Fund, Griffin Gaming Partners
  • Temasek, Tencent, Alameda Research, Shima Capital

Public Market Activity

• $105.5B in disclosed deal activity across public markets.
• Notable public market transactions:
  • Azerion completed a $1.5B SPAC deal, raising $105M in proceeds.
  • Nexon raised $883M through a PIPE from the Public Investment Fund of Saudi Arabia.
  • Team17 Digital raised $108M via a PIPE to fund the acquisition of Astragon Entertainment.

New Funds in the Gaming and Crypto Space

• Record number of new and follow-on funds:
  • FTX launched a $2B fund.
  • Griffin Gaming Partners raised $750M.
  • Makers Fund raised $500M.
  • Hiro Capital raised $340M.
  • Gumi Crypto raised $110M.

Deal Count and Value

• 287 private deals totaling $3.4B.
• 98 disclosed M&A deals totaling $93B.
• Q1 2022 deal value surpassed the full year 2021 deal value, reflecting a strong year-on-year growth.

Segment Breakdown

• PC/Console: 41 deals, $35.4B in total value.
• Mobile: 34 deals, $22.3B in total value.
• Esports: 10 deals, $1.5B in total value.
• Hardware/Tools: 10 deals, $1.2B in total value.
• Blockchain/NFT: 10 deals, $1.2B in total value.

Key Players in the Market

Top M&A Acquirers

• Microsoft ($68.9B for Activision)
• Take-Two Interactive ($11.8B for Zynga)
• Sony ($3.6B for Bungie)
• Savvy Gaming Group ($1.5B for ESL and FACEIT)
• Tencent ($470M for Black Shark)
• Stillfront ($201M for 6waves)

Top Fundraising Targets

• Dream Games ($255M)
• Thatgamecompany ($160M)
• Tripledot Studios ($116M)
• Zupee ($102M)
• Immutable ($200M)
• Animoca Brands ($359M)

Top Investors

• Liberty City Ventures
• TPG
• Index Ventures
• Sequoia Capital
• Tencent
• Temasek
• Animoca Brands
• Alameda Research
• Shima Capital
• Griffin Gaming Partners

Conclusion

Q1 2022 was a transformative quarter for the global gaming and esports industry, characterized by massive M&A activity, record-breaking private fundraising, and new fund launches. The surge in deal value and count signals a strong consolidation trend, with major players expanding their reach through acquisitions and strategic investments. The rise of blockchain and NFT gaming companies, supported by significant capital inflows, further highlights the industry's evolving landscape.