Keywords Studios has announced the acquisition of Nottingham-based game development studio, Multiplayer Group (MPG), for £76.5m.

The provider of creative and technology-enabled solutions has acquired MPG from metaverse company, Improbable, which has owned the group since 2019.

MPG is a developer of AAA multiplayer games and technology for studios and publishers including Activision Blizzard, Epic and 2K.

The firm, which was founded in 2018, has a global client base and has functions working on data science, new technology and artificial intelligence, employing 360 staff globally.

Chief executive officer (CEO) at Keywords Studios, Bertrand Bodson, said: "We are thrilled to welcome the MPG team to Keywords. MPG is a business that we have long admired for its high-quality work, blue-chip client base, deep experience in developing AAA multiplayer games and its use of technology and data analytics.

"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."

MPG’s leadership team, which comprises Andy Norman, Rocco Loscalzo, Vaughan O’Brien and Roger Cheung, will continue to lead the business following the acquisition and will participate in a management incentive plan based on ambitious growth targets over the next two years.

The consideration was paid in cash by Keywords Studios and was primarily funded by the group’s existing revolving credit facility. The business has a strong pipeline of work and is expected to deliver double-digit percentage revenue growth in 2024, according to a statement from Keywords Studios.

CEO at MPG, Andy Norman, added: "MPG has found success in the multiplayer space through passion, expertise, and customer driven collaboration. We have seen strong growth over the past few years, working on some of the most complex and successful games in the market, supported by our dedication to a sustainable, people-first culture.

"With Keywords, we believe we can continue to lead and grow multiplayer innovation, bringing the MPG ethos to more customers and games. We look forward to working closely with Keywords and driving growth both in MPG and across the enlarged Keywords' group."

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