🌋 Improbable Sells Its Gaming Unit MPG
posted 18 Dec 2023
Metaverse technology company Improbable has sold its gaming unit, The
Multiplayer Group (MPG), to video game developer Keywords Studios for
$97 million. MPG is renowned for its work on titles like Fallout 76 and
Medal of Honor: Beyond and Beyond.
Some perceive this shift as Improbable's strategic move to reduce its
gaming footprint. CEO Herman Narula, however, counters this perception,
affirming the company's ongoing commitment to the gaming industry and
clarifying that the MPG divestiture aligns with broader strategic goals.
“We’re not in any way selling any technology, or in any way ceasing to operate with games companies,” Narula clarified.
However,
even with these assurances and backing from major investors like
SoftBank and Andreessen Horowitz, the company has recently reduced a
considerable number of its workforce and continues to offload some of
its holdings. Analysts at Rainmaker Securities have also observed a
waning investor interest in Improbable.
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