Mergers and Acquisitions
Ongoing coverage on Mergers and Acquisitions.
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Brian Ward steps down as Savvy Games Group CEO
Brian Ward is stepping down as CEO of Savvy Games Group, a company established in 2021 to expand Saudi Arabia's presence in the global games industry. Turqi Alnowaiser, deputy governor of the Public Investment Fund (PIF), will serve as interim acting CEO. Ward's tenure saw significant acquisitions, including Scopely and Moonton.
CEO of Saudi Arabia's Savvy Games Group Brian Ward steps down after overseeing billions in mobile gaming acquisitions
Brian Ward, CEO of Saudi Arabia's Savvy Games Group, has stepped down after overseeing billions in investments, including significant stakes in Niantic and Scopely. His departure comes amidst concerns following Saudi Arabia's recent acquisition of Electronic Arts. Industry analyst George Osborn noted Ward's diligent work in building Savvy's portfolio, balancing acquisitions with ecosystem development.
Rovio closes Copenhagen studio following shut down of Sonic Blitz
Rovio has closed its Copenhagen studio and cancelled the mobile game Sonic Blitz, impacting approximately 20 employees. CEO Alexandre Pelletier-Normand cited poor retention and a need to concentrate resources as reasons for the discontinuation. Sega, which acquired Rovio in 2023, reported a significant impairment on the acquisition cost due to profitability falling below forecasts and challenges integrating technology.
GameStop (GME) held $5 billion in cash and nearly $5 billion in eBay stock as of August 1
GameStop has announced preliminary Q2 2026 earnings, revealing it holds $5 billion in cash and $5 billion in eBay stock. Despite repeated rejections from eBay, GameStop and CEO Ryan Cohen continue to pursue an acquisition. Michael Burry notably sold his stake in GameStop in May 2026.
Stripe-led group is reportedly abandoning its PayPal acquisition
Stripe and buyout firm Advent have reportedly abandoned their acquisition of PayPal. The deal was rumored to be in progress earlier this month.
Nvidia’s $12.9 Billion Bet on Hugging Face Arrives as the Closed Labs Drift Away
Nvidia is acquiring the open-source AI platform Hugging Face for $12.9 billion, a price significantly higher than its estimated $150 million annual revenue. This strategic move aims to bolster Nvidia's position in the AI market as major clients like OpenAI and Google develop their own custom silicon, potentially reducing their reliance on Nvidia's hardware. The acquisition is seen as a counterweight to the trend of closed AI labs, securing Nvidia's hardware dominance within the open-source AI community.
Meta reaches $16.7 billion settlement in social media addiction lawsuit
Meta has reached a $16.7 billion settlement with 29 states over a lawsuit concerning child safety and social media addiction on platforms like Facebook and Instagram. The company will also implement safety changes, including daily usage limits and nighttime blocks for teenage users.
The Biggest Gaming Stories That Happened Since GTA 5 Came Out 13 Years Ago
Since Grand Theft Auto 5's release in September 2013, the gaming landscape has seen significant shifts, including the rise of live-service games like Fortnite and the eventual decline of E3. Major events include numerous Skyrim ports, the expansion of the Watch Dogs franchise, Halo appearing on PlayStation, and Grand Theft Auto 5 itself releasing on multiple new platforms. The period also saw the rise of Andrew Wilson at EA, the entire Phil Spencer era at Xbox, the successful launch and dominance of the Nintendo Switch, and a significant increase in console prices.
Game Of Thrones: War For Westeros Will Let The White Walkers Win
Playside revealed gameplay for Game of Thrones: War for Westeros, a real-time strategy game where players can command legendary Houses or the Night King's forces. The game allows players to rewrite the events of the franchise, including potentially letting the White Walkers win. It will feature a single-player campaign and multiplayer modes, and is seen as part of a resurgence for the RTS genre.
Dragon Ball Z Is Getting a €6 Billion Theme Park Outside Paris, Funded by France and Saudi Arabia
France and Saudi Arabia are collaborating on a €6 billion Dragon Ball Z-themed amusement park to be built northwest of Paris. The concept emerged from a meeting between French President Emmanuel Macron and Saudi Crown Prince Mohammed bin Salman, both fans of the franchise. The project will be funded by Qiddiya, a Saudi entertainment group, which is also developing a similar Dragon Ball park in Riyadh.
Report: Hugging Face Sounding Out Buyers at Roughly $13 Billion
AI company Hugging Face is reportedly exploring acquisition interest at a valuation of approximately $13 billion, nearly double a $7 billion offer it previously rejected from Nvidia. The company, known for hosting and running AI models, has engaged a bank to gauge potential buyers. This valuation significantly exceeds its last official mark of $4.5 billion in 2023 and surpasses Microsoft's $7.5 billion acquisition of GitHub.
Maria Redin of mobile giant MTG on rebranding, buying Raid: Shadow Legends, and plans to double the company's size
MTG CEO Maria Redin outlines ambitious plans to double the company's size within three to five years, primarily through acquisitions, following the $620 million purchase of Raid: Shadow Legends developer Plarium. The company is rebranding its studio districts to Playsimple and Playamp, focusing on employee retention and integrating technology across its portfolio. Redin also highlights the crucial role of embracing generative AI to maintain competitiveness and enhance game development workflows in the maturing mobile gaming market.
Compulsion Games' buyout is complete, so now Microsoft won't get a cut if you buy South of Midnight
Compulsion Games has completed a management buyout, regaining ownership of its intellectual property from Microsoft's Xbox Game Studios. This separation allows Compulsion to retain a larger share of revenue from games like South of Midnight, which received an 83% review score. The studio, also known for We Happy Few and Contrast, is now independent after rumors of closure following recent layoffs.
EA staff worries over Saudi buyout, Grand Theft Auto 6 leaks, and Peak's last major update - Patch Notes #66
This article covers several gaming industry developments, including employee concerns at Electronic Arts following a Saudi buyout, ongoing leaks of Grand Theft Auto 6, and the final update for the game Peak. It also touches on FromSoftware's new game The Duskbloods, Compulsion Games' management buyout from Xbox, PlayStation's struggles with live-service games, and the use of AI in game development.
Former EA manager will "believe" the next Mass Effect is happening "when I see it" after $55 billion acquisition: "They can pull the plug very, very easily"
A former EA manager, Emmanuel Rosier, expressed skepticism about the future of Mass Effect 5 following Electronic Arts' acquisition by private investors. Rosier, now with Newzoo, stated that EA could easily cancel the project, especially if the new investors prioritize financial decisions over the studio's history. He noted that BioWare has struggled in recent years and that games can take a very long time to develop, citing Dragon Age: The Veilguard's lengthy development.
EA's Saudi takeover wouldn't have happened if the company's culture "had any semblance of a moral backbone", say staff fearing layoffs and ownership meddling
Electronic Arts staff express significant concerns following the company's takeover by the Saudi Arabian government and Jared Kushner's investment group. Employees fear potential layoffs, interference with creative decisions, and a negative impact on company culture due to the new ownership's values. Despite EA's assurances, staff feel uneasy and compelled to stay due to the difficult job market.
"I don't know if they will keep funding that one" - Former EA manager doesn't believe the next Mass Effect will survive Saudi takeover
A former Electronic Arts manager, Emmanuel Rosier, expressed doubt about the continued funding for the next Mass Effect game following EA's acquisition by Saudi Arabia's Public Investment Fund. Rosier, now with Newzoo, believes BioWare's IPs are at risk due to the studio's recent struggles and EA's potential need to leverage its most profitable franchises to manage its debt.
Will the next Mass Effect actually release under EA's new owners? 'I'll believe it when I see it,' says former EA manager turned Newzoo analyst
Following Electronic Arts' acquisition by a consortium including Saudi Arabia's Public Investment Fund, industry analyst Emmanuel Rosier expressed uncertainty about the future of the company's less prominent intellectual properties and studios like BioWare. Rosier suggests that EA might sell off dormant IPs such as Ultima and Wing Commander or focus heavily on sports titles and esports due to regional interests.
Next Mass Effect Game Might Not Get Funding Following EA’s Acquisition, Says Former Exec
A former Electronic Arts executive suggests that EA's acquisition by the Public Investment Fund could jeopardize funding for the Mass Effect franchise. The executive believes EA will prioritize its major IPs like EA Sports FC and esports, potentially leading to the cancellation of less profitable or struggling franchises like Mass Effect, despite CEO Andrew Wilson's statements about bold investment.
EA devs feel "the threat of layoffs at all times," especially after Saudi Arabia acquisition: "It's hard to see how teams or games that underperform wouldn't be dissolved"
Electronic Arts developers are experiencing heightened anxiety regarding potential layoffs following the company's $55 billion acquisition by a consortium led by Saudi Arabia's Public Investment Fund. Employees fear that underperforming teams and games may be dissolved to cut costs and manage debt, despite assurances of no immediate changes.
