Improbable Offloads Gaming Unit MPG in Nearly $100M Deal with Keywords Studios in Metaverse Business Shift

Improbable, backed by influential investors including Andreessen Horowitz (a16z) and SoftBank’s Vision Fund 2, made headlines on Monday as it confirmed the successful sale of its gaming unit, The Multiplayer Group (MPG), to videogame developer Keywords Studios (KWS) for a substantial sum of 76.5 million British pounds ($97 million).

The transaction, reported by the company on Monday and detailed in a CNBC report, represents a pivotal strategic shift in Improbable's portfolio. With support from major investors, Improbable finalized the sale of The Multiplayer Group, indicating a deliberate move in response to market dynamics.

The Multiplayer Group (MPG) operates on a global scale, boasting a workforce of 360 professionals spanning 34 countries. Notably, MPG's client base includes industry behemoths such as Activision Blizzard, Bethesda, Zenimax, Epic, and 2K. Improbable had initially acquired MPG in 2019 for a sum of 30 million pounds, as officially confirmed.

In the preceding year, Improbable successfully secured a significant funding round totaling $150 million. This round was led by a16z and SoftBank, with additional contributions from Digital Currency Group, Mirana Ventures, SIG, Ethereal Ventures, and CMT Digital. This financial influx augmented Improbable's substantial funding history, which had already surpassed $600 million from previous rounds.

The sale of The Multiplayer Group marks a strategic realignment for Improbable, leveraging its established position within the metaverse sector. This move underscores the dynamic nature of the gaming industry and emphasizes Improbable's commitment to adapting to evolving market trends. The company's deliberate actions reflect its proactive approach to staying at the forefront of industry shifts and maintaining a resilient and agile business model.

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