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DWF advises Keywords Studios on acquisition of The Multiplayer Group

19 December 2023

DWF, the global provider of integrated legal and business services, has advised long-standing client, Keywords Studios, the leading international provider of creative and technology-enabled solutions to the global video games and entertainment industries, on its acquisition of The Multiplayer Group Ltd (“MPG”), a multiplayer focused game development studio headquartered in Nottingham, UK, for £76.5 million.

Keywords Studios has acquired the business from Improbable Worlds Limited, the metaverse company, which has owned MPG since 2019.

MPG is one of the largest and most respected developers of AAA multiplayer games and technology for some of the world’s best-known studios and publishers including Activision Blizzard, Bethesda, Zenimax, Epic and 2K.

The DWF team was led by London Corporate partner Paddy Eaton, with support from partners Jon Stevens (Tax), Ben Cooke (Commercial) and Stephen Cairns (Employment), and Corporate senior associates Sophie Morris and Alex Stoughton. DWF-RCD advised on Spanish matters, led by Madrid partners Carlos Nogareda (Corporate) and Lucas Espada (Tax). Miller Thomson also advised on the Canadian aspects of the transaction, led by Quebec Regional Managing Partner Philipp Park.

Paddy Eaton said: "We are delighted to have assisted Keywords Studios with this latest strategic transaction, which represents another important step in building out its platform and expanding its offering to encompass specialised multiplayer game development at scale."  

Andrew Kennedy, General Counsel & Company Secretary at Keywords Studios, added: "We are thrilled to welcome MPG to Keywords Studios. We appreciate the commitment and expertise from Paddy and the wider DWF team on this transaction, where their support and guidance played an integral role in helping Keywords Studios achieve yet another milestone in its continuous growth."

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