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Microsoft's Xbox Closes 4 Video Game Studios In Bethesda Restructure

Benzinga

(NASDAQ: MSFT ) is shuttering several Bethesda studios and merging at least two — Roundhouse Games and ZeniMax Online Studios — sending shockwaves through the gaming industry. See Also: 2024 Gaming Industry Shakeup – Over 2,700 Layoffs Revealed In Past 11 Days It’s not yet clear how many jobs will be lost.

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Why is the $180bn games industry shedding thousands of staff?

The Guardian M&A

Despite healthy sales, publishers such as Epic Games and Activision Blizzard are making hundreds of employees redundant – which may radically reshape the industry It is widely agreed that 2023 was a stellar year for video games. Microsoft laid off 1,900 Activision Blizzard staff after its $69bn purchase of the company.

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SoftBank-Backed Improbable Sells Off Metaverse Gaming Arm For $97M To Keywords Studios

Benzinga

In a significant move in the gaming industry, Improbable , a British metaverse company, has divested its gaming division, The Multiplayer Group (MPG) , to the Ireland-based video game developer, Keywords Studios for $97 million. The deal was sealed on Sunday as reported by CNBC.

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Bryan Cave Gaming Guru Talks M&A After Microsoft-Activision

Law 360 M&A

As observers of M&A in the video game sector are well aware, 2023 saw quite the anomaly when, despite pushback from regulators in the U.S., Here, Law360 speaks to Bryan Cave partner Kurt Ma about the significance of that deal, Saudi Arabia’s foray into the gaming sector, and more.

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China's Leading Gaming Company NetEase Snaps Canadian Gaming Studio SkyBox Labs

Benzinga

NetEase, Inc (NASDAQ: NTES ) scooped Canadian gaming studio SkyBox Labs , which co-developed significant games, including Halo Infinite. SkyBox labs will operate independently under NetEase, China's second-biggest gaming company, CNBC reports. The financial terms of the transaction remained undisclosed.

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9th Circ. Upholds Tossing Skillz Gaming Tech Investor Suit

Law 360 M&A

The Ninth Circuit on Tuesday upheld a decision to toss a proposed class action claiming that mobile gaming company Skillz Inc. misled investors about its technology prior to a 2021 merger with a special purpose acquisition company, ruling that issues with the gaming software do not make the company' statements false or misleading.

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Conn. Gaming Co., Bingo Supplier Settle Soured Deal Suit

Law 360 M&A

A Connecticut gaming company and the bingo products supplier it accused of withholding assets it had promised to sell in a $1.2 million acquisition agreement settled their dispute the day before they began jury selection, according to a new notice filed in federal court.

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