New report claims video games business M&A quantity “stable” over Q3 2025

Global video games business development has remained mainly “stable” over Q3 2025, with 49 mergers and acquisitions recorded throughout the interval, together with final month’s shock announcement that Electronic Arts is to be acquired by a gaggle of buyers comprised Saudi Arabia’s Public Investment Fund (PIF), Silver Lake, and Affinity Partners for $55 billion.

Bandai Namco’s minority stake sale to Sony and Prime Insight’s acquisition by Aonic had been additionally noteworthy.

In the Video Game Market Update Q3 2025 report ready by funding agency Aream & Co, cellular gaming IAP spend elevated over the interval to $21bn, with “Asian mobile publishers driving the majority of gains.”

PC gaming maintains a equally robust efficiency, up 18% year-on-year, “powered by successful franchise releases on Steam,” together with Borderlands 4, Dying Light: The Beast, and Team Cherry’s Silksong. The Nintendo Switch 2 additionally boosted console gaming, with Nintendo’s income rising “2.5x YoY while Sony and Microsoft posted double-digit growth.”

Public market fundraising cooled, nonetheless, with simply $0.3bn raised via public choices in Q3 2025 in comparison with $10.1bn within the first half of this yr.

Similarly, non-public funding exercise “remained subdued” at 82 offers in Q3 2025, and Series A rounds had been down as soon as once more for the fifth consecutive quarter. Startup funding was centered on AI, web-shop, and VR and cellular studios, primarily in Türkiye.

For extra insights, learn Aream & Co‘s full report.