Weekly News Digest #29

In just a few years, mobile gaming shifted from a speculative VC-fueled frenzy to a disciplined M&A market. In 2025, mobile accounted for ~$6.6B of gaming deals — nearly 98% of the total — driven by strategic buyers and private equity.

Why? Mobile studios today deliver predictable, recurring revenue, not risky blockbusters. Only the strongest, execution-focused teams survived the VC pullback and became prime targets. Genres and geographies evolved too: Turkey rose as a casual gaming hub, hypercasual faded in favor of hybrid and casual models.

Strategics like AppLovin, Playtika, Savvy, and CVC are now acquiring live ops expertise and proven monetization engines — not just games.

Read the full analysis to understand how mobile studios moved from hype to maturity — and why acquirers can’t get enough.

The Great Mobile Reversal: Why Buyers Pay Billions for What VCs Abandoned

For more insights, explore our free gaming industry reporting database with smart search — all of the deep dives in one place.

MERGERS & ACQUISITIONS

Singapore-based digital content payments provider Coda Payments has acquired Netherlands-based fintech company Recharge for an undisclosed sum. The acquisition aims to strengthen Coda’s presence in Europe while expanding its footprint beyond gaming into broader digital content markets. Simultaneously, the deal will provide Recharge with increased access to Asian markets, leveraging Coda’s regional expertise. Recharge is a prepaid platform offering gift cards, mobile top-ups, and lifestyle products across various sectors like telecom, retail, digital services, and gaming. In contrast, Coda Payments specializes in cross-border payment solutions and monetization platforms for digital game publishers and other content providers.

UK-based games developer The Chinese Room has completed a management buyout from the UK-based multi-platform video game developer Sumo Group (AIM: SUMO), transitioning into an independent studio. Hiro Capital supported the transaction. The move follows Sumo Group’s strategic decision to prioritize partner development services over the continuation of original IPs development. The Chinese Room, known for titles such as Still Wakes the Deep, Dear Esther, and Everybody’s Gone to the Rapture, will continue development on its upcoming projects, including new IPs and Vampire: The Masquerade — Bloodlines 2, scheduled for release in Oct’25.

UK-based outsourcing company Airship Interactive has been relaunched under the new brand Airmergent following a management buyout. The management team has acquired all assets, including the team and ongoing projects, using its own funds. According to the press release, the formation of Airmergent reflects a strategic response to ongoing industry challenges. The buyout aims to ensure business continuity, preserve the studio’s legacy, and safeguard existing jobs. Under its previous brand, Airship Interactive contributed to major titles such as Star Wars: Hunters, Baldur’s Gate 3, FC24, and Pax Dei.

UAE-based hypercasual games publisher Mamboo Games has acquired the mobile title TowerLands for an undisclosed sum. According to AppMagic, TowerLands, which was released in Mar’20, has achieved 5.1 million lifetime downloads and generated approximately $6.1m IAP revenue. In Dec’24, Mamboo Games was bought out by its founding team for an undisclosed sum.

VENTURE FINANCING

Singapore-based web3 developer Dante Games has raised $20m in a funding round led by Rollman Management, which will also be involved in the company’s ongoing development efforts. The capital will be used to enhance Dante Games’ AI agent tools, particularly for NPCs, and to support the development of new titles. These include the company’s debut card-based RPG Hellmaster, along with two additional in-development games: Eternal Fighters and Infernal Bastions. Hellmaster currently has a player base of approximately 15,000 MAU.

UK-based web3 games developer Football.Fun has raised $2m in a funding round led by 6th Man Ventures, with participation from Devmons, Sfermion, The Operating Group, and Zee Prime Capital. The investment will support the development and upcoming launch of the full version of its flagship title, FDF Pro, scheduled for release in Aug’25. The studio is developing a web3 browser-based game that combines fantasy football with real-time trading mechanics, aiming to bridge the intersection of sports fandom and blockchain-enabled interactivity.

FUNDRASING

China-based initiative The Big Bang Accelerator has officially launched, aiming to support early-stage game development teams worldwide. The accelerator was founded by veterans from Hat-Trick Capital, Tencent, Scopely China, NetEase, and Moonton, and will accept applications on a rolling basis. Selected teams will be invited to monthly Pitch Days, with successful applicants enrolled in a six-month accelerator cycle. In addition to funding, the program offers comprehensive support, including publishing partnerships, access to IP resources, and distribution infrastructure.