TECH SoftBank-backed metaverse firm Improbable se
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Posted On: 12/18/2023 6:25:08 AM
TECH
SoftBank-backed metaverse firm Improbable sells a key gaming venture for $97 million
PUBLISHED MON, DEC 18 20232:45 AM ESTUPDATED 3 MIN AGO
Improbable has sold The Multiplayer Group, a multiplayer games services company it bought in 2019, to Keywords Studios for £76.5 million ($97.1 million).
Herman Narula, Improbable's CEO, told CNBC the transaction is part of its "venture builder" strategy, through which it invests in or acquires teams with the option to expand them or spin them out.
The deal to sell MPG, one of Improbable's many notable bets on gaming, arrives after a series of struggles at the firm.
Narula said he expects to see a "tale of two metaverses" emerge in 2024, where centralized experiences such as Roblox and Fortnite are eschewed in favor of decentralized, "Web3" versions.
SoftBank-backed metaverse firm Improbable sells a key gaming venture for $97 million
PUBLISHED MON, DEC 18 20232:45 AM ESTUPDATED 3 MIN AGO
Improbable has sold The Multiplayer Group, a multiplayer games services company it bought in 2019, to Keywords Studios for £76.5 million ($97.1 million).
Herman Narula, Improbable's CEO, told CNBC the transaction is part of its "venture builder" strategy, through which it invests in or acquires teams with the option to expand them or spin them out.
The deal to sell MPG, one of Improbable's many notable bets on gaming, arrives after a series of struggles at the firm.
Narula said he expects to see a "tale of two metaverses" emerge in 2024, where centralized experiences such as Roblox and Fortnite are eschewed in favor of decentralized, "Web3" versions.
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