May 22, 2024
Banking

Keywords acquires The Multiplayer Group from Improbable for £76.5m



Keywords Studios has acquired The Multiplayer Group from cloud technology firm Improbable for £76.5 million.


The developer announced today that it has added the Nottingham-based studio to its portfolio, which was acquired by Improbable in 2019. The acquisition will be paid in cash, primarily funded by Keywords’ “existing revolving credit facility.”


Founded in 2018, MPG is known for its focus on multiplayer games. The company provides services in full and co-development, and has worked on titles such as Fall Guys, Call of Duty: Modern Warfare 2, Mortal Kombat 1, and Starfield.


MPG’s leadership team will remain the same post-acquisition, including CEO Andy Norman, CTO Rocco Loscalzo, chief operating officer Vaughan O’Brien, and CBO and VP of future development Roger Cheung.


“This is another important step in building out our platform and expanding our offering to encompass specialised multiplayer game development at scale, which is increasingly in demand for live services,” said Keywords Studios CEO Bertrand Bodson.


“We believe that MPG complements our existing high-quality UK and global Create studios and are excited to bring them into the Group. We look forward to working with Andy and the wider talented MPG team over the coming years to continue to drive growth in the business.”


Norman added: “MPG has found success in the multiplayer space through passion, expertise, and customer driven collaboration. We have seen strong growth over the past few years, working on some of the most complex and successful games in the market, supported by our dedication to a sustainable, people-first culture.


“With Keywords, we believe we can continue to lead and grow multiplayer innovation, bringing the MPG ethos to more customers and games. We look forward to working closely with Keywords and driving growth both in MPG and across the enlarged Keywords’ group.”


Earlier this year, Keywords Studios acquired US developer Hardsuit Labs – a Seattle-based studio that previously supported development on Call of Duty, Gears of War, and Fortnite.


Improbable has been selling off its games businesses — including Midwinter Entertainment, Inflexion — over the last few years as the firm leans into the metaverse.


Earlier this year, Improbable also sold off its defence subsidiary.

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