Additionally, Blockchain gaming related investments totaled 25% of Q2 2022’s value at $1.2 billion.

Total M&A transactions reached $18.6 billion and saw a growth of 135% year-over-year for the quarter. The report went on to say that the increase in both mergers and in acquisitions took place in over 59 deals, with a big chunk, 2/3 to be exact, being attributed to Take-Two’s acquisition of Zynga for $12.7 billion. Mergers and acquisitions, per the report, amassed $26.5 billion and were down 7% when comparing to the same period last year.

Unity’s merger with IronSource, Embracer’s acquisition of Crystal Dynamics, Eidos Montreal, and Square Enix Montreal for $300 million were some examples of M&A deals that were highlighted in Q2.

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Pitchford says that the acquisition will give Gearbox the opportunity to take more risks.

“We have so many new IP concepts that are in our incubator, that are ready to explode,” Pitchford said, in an interview with GamesBeat.

“We could wait for the right publishing partner who’s willing to make a bet, rather than only take a risk on something they know Gearbox has already done before. Those publishers that have taken risks on us for what we want to see next have always been rewarded. But for some reason they can’t be comfortable with that kind of risk. Now we get to take that risk.

“We don’t have to burn the boats to do it. When Epic did their deal, they ended up selling Gears of War to Microsoft. They burned the boats to show they could do something you’d never expect from Epic before, and [gaming] got Fortnite out of that. We don’t have to do that. We can maximally deliver on the IP we have and pursue new IP as a consequence of this relationship. That’s incredibly exciting for me. I feel like we’re just getting started.”

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