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Gaming M&A Sell-side Financial Advisors Ranking

WRITTEN BY | 24 Mar 2024
Gaming M&A Sell-side Financial Advisors Ranking

In a landscape where the gaming M&A activity has moderated from the peaks of 2021-2022 yet remains significantly vibrant compared to pre-pandemic levels, the importance of adept advisory cannot be overstated. These are the times that underscore the value of strategic guidance—where advisors not only steer companies through the complexities of deal-making but also ensure that each transaction is structured to maximize value and facilitate a seamless transition.

Introducing the Global M&A Sell-Side Financial Advisory League Table for 2020-2024 YTD. This comprehensive Table highlights the financial advisory firms that have been instrumental in leading the gaming industry through transformative deals during these fluctuating times. Designed with founders and investors in mind, this League Table is your navigator in the ever-evolving M&A landscape, offering an unparalleled analysis derived from InvestGame’s very own proprietary database, spotlighting over 60 significant acquisitions based on the following criteria:

  • Sellers represent game developers or publishers across PC, Console, and Mobile;
  • Transactions valued at $65m or more in an estimated upfront payment, excluding earn-outs;
  • This includes transactions with the sale of a controlling stake and disclosed sell-side financial advisory role.

Top3 Gaming Advisors

Our database ranks over 20 financial advisory firms by balancing the total transaction value against the volume of deals concluded, showcasing leaders such as Aream & Co., Goldman Sachs, and The Raine Group. These firms lead in numbers and navigate some of the sector’s most monumental transactions, setting benchmarks in financial advisory services.

#1 Aream & Co.

Aream & Co. leads the top chart, with 24 closed and publicly disclosed transactions representing over $9.2B of the estimated value of total upfront considerations. It has the largest number of deals in the ranking, with the biggest ones being the $2.1B Peak sale to Zynga (NasdaqGS: ZNGA) and the sale of Jagex to CVC Capital Partners and Haveli Investments for an estimated value of ~$1.1B.

#2 Goldman Sachs

Second is Goldman Sachs, which facilitated 8 deals with a total upfront deal value of $30.4B. Goldman Sachs advised on some of the industry’s largest transactions, including the $12.7B sale of Zynga to Take-Two Interactive (NAS: TTWO) and the $7.5B sale of ZeniMax Media to Microsoft.

#3 The Raine Group

The Raine Group rounds out the top three, having advised on five deals valued at almost $7B, the largest of which was the $4B sale of Moonton to Nuverse (ByteDance) and the $2.2B sale of SpinX Games to Netmarble.

Refer to our league table below for detailed insight into the top advisory firms shaping the future of gaming investments.

Top6 Advisor Deals

By becoming a supporter on Patreon, you unlock exclusive access to the critical data that underpins our League Table. This insight into the gaming M&A landscape enriches your strategic understanding and supports our mission. Your contribution fuels the InvestGame team’s ability to continue delivering comprehensive analysis of significant transactions, offering you precise and detailed perspectives on the dynamics of global gaming deals. Join us on Patreon and empower your decision-making with access to our meticulously curated data.