Keywords Studios buys The Multiplayer Group for £76.5m

Keywords Studios said on Monday that it has bought The Multiplayer Group (MPG), a Nottingham-based multiplayer focused game development studio, for £76.5m.

The business has been bought from Improbable, the metaverse company, which has owned MPG since 2019.

Keywords said MPG is one of the largest and most respected developers of AAA multiplayer games and technology for some of the world's best-known studios and publishers including Activision Blizzard, Bethesda, Zenimax, Epic and 2K.

It provides a range of services including both co-development and full game development to a global client base, and also has functions working on data science, new technology and AI.

Founded in 2018, MPG now employs more than 360 staff globally.

MPG's leadership team comprising Andy Norman, Rocco Loscalzo, Vaughan O'Brien and Roger Cheung will continue to lead the business after the acquisition and will participate in a management incentive plan based on "ambitious" growth targets over the next two years, Keywords said.

MPG said the business has a strong pipeline of work and is expected to deliver double-digit percentage revenue growth in 2024, with margins in line with its Create division.

Chief executive Bertrand Bodson said: "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.

"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."