Improbable metaverse developer and software company backed by the Softbank Group has put its gaming venture, The Multiplayer Group (MPG), up for sale for $97 million. The multiplayer games services, which it purchased in 2019 for £30 million, were sold to Keywords Studios for $97.1 million or about £76.5 million.

According to CoinTelegraph, Improbable decided to discard its MPG gaming business as part of its market strategy for 2024. The Metaverse firm confirmed the sale of its unit via the end-of-the-year statement that was posted on Monday, Dec. 18.

Passing the Control on MPG to Keywords Studios

Improbable’s chief said he is pleased to see MPG set about on a new chapter with Keywords Studios. The new owner already works with other major firms in the gaming sector, such as Bethesda, Epic Games, 2K, and Activision Blizzard; thus, MPG’s transfer to this company is still a good deal.

Additional information about Improbable’s sale deal with Keywords Studios is not available as of this time. At any rate, the company predicted that 2024 will see more mergers and streamlining in the Web3, gaming, metaverse, and other sectors in the crypto industry.

New Metaverse Enterprise Deals After Divestment of Non-core Units

After the sale of MPG, Improbable will set out to delve deeper into the Metaverse business. The company is set to host its 2024 first-quarter presentation, where it will lay out its portfolio and line of ventures focusing on music, Web3 and internet culture, and sports.

“We are delighted to see MPG embark on its next chapter with Keywords, who we have always seen as a like-minded business partner. Nurturing and fostering ventures across Sports, Web3, and fashion is at the heart of our philosophy and allows us to realize lasting value,” Improbable’s chief executive officer, Herman Narula, said in a press release. “We are confident that MPG will continue to grow within the Keywords environment, while this first success allows us to continue to deliver on our Venture Dealbook in 2024.”

Keyword Studios’ CEO, Bertrand Bodson, said in a separate statement, “We are thrilled to welcome the MPG team to Keywords. This is another important step in building out our platform and expanding our offering to encompass specialized multiplayer game development at scale, which is increasingly in demand for live services.”

Photo by: Improbable Website