Improbable, a pioneering force in the metaverse realm, has recently divested its gaming division, Multiplayer Group (MPG), in a significant move. Acquired in 2019 for £30 million, MPG, which offers multiplayer services to prominent global publishers like Activision Blizzard and Epic Games, has been sold to Keywords Studios, a Dublin-based games firm, for £76.5 million.
The sale comes after MPG witnessed substantial growth, expanding its workforce six-fold to around 360 employees. Keywords Studios, known for its acquisitive approach in the gaming industry, has taken the reins of MPG, signaling a new chapter for the metaverse-focused gaming division.
Improbable founder and CEO Herman Narula expressed enthusiasm about MPG’s transition, stating, “We are delighted to see MPG embark on its next chapter with Keywords, who we’ve always seen as a like-minded business partner.” Narula highlighted Improbable’s commitment to nurturing ventures across various sectors, including sports, web3, and fashion, and expressed confidence in MPG’s continued growth under the Keywords umbrella.
Improbable, a longstanding figure in virtual worlds technology, has been a key player in the UK’s metaverse landscape for over a decade. In the past year, the company narrowed losses by £131 million to £19 million, demonstrating strategic shifts and revenue growth. Despite falling slightly short of achieving profitability in 2022, Improbable has been refining its focus on the metaverse, selling its defense and national security business in June.
The sale of MPG to Keywords Studios aligns with Improbable’s broader strategy, allowing the company to concentrate on its core metaverse initiatives while facilitating the growth and evolution of its former gaming division within the Keywords environment.
