Elden Ring Developer Rumored to be Merger and Acquisition Candidate for Sony

FromSoftware has had great success over the past several years – its most recent title, Elden Ring, sold over 12 million copies in less than a month. So it’s perhaps not too surprising that the studio is rumored to be a merger and acquisition (M&A) candidate for Sony. This is according to Kantan Games CEO and analyst Dr. Serkan Toto on Twitter.

Along with providing a brief history of FromSoftware’s dealings, Toto also spoke about its valuation which “still makes my heart bleed.” Current parent company Kadokawa Corporation purchased shares of the developer for “what is the equivalent of US$22.5 million today. So in 2014, From’s valuation was well below US$30 million. The devil is in the details, but the price was very likely a total joke back then already.”

While it’s technically not impossible for the studio to be sold, being a “candidate” for merger and acquisition doesn’t immediately translate to a done deal. FromSoftware could very well be under consideration for acquisition along with several other studios. So while Sony taking interest is important, don’t take this as outright confirmation of the same.

However, if it does happen, it would be interesting to see the results. Who knows? We may finally get that sequel/remake/remaster to Bloodborne after all this time.

1) One of my favorite studios, Tokyo-based FromSoftware, is currently rumored to be an M&A candidate for Sony.

Here is a quick run-down of its weird background feat. pigs, right-wing newspapers, Toyota and the metaverse.

And their early valuation… unspeakable.

Buckle up😮

— Dr. Serkan Toto / Kantan Games Inc. (@serkantoto) April 18, 2022

8) In 2014, publishing giant Kadokawa landed what is one of the greatest deals in the history of the gaming industry worldwide.

In April that year, Kadokawa acquired 80% of From's shares from transcosmos.

The outsourcing company simply wanted to get rid of its gaming business.

— Dr. Serkan Toto / Kantan Games Inc. (@serkantoto) April 18, 2022

9) Now the price, which still makes my heart bleed.

The shares were sold for what is the equivalent of US$22.5 million today.

So in 2014, From's valuation was well below US$30 million.

The devil is in the details, but the price was very likely a total joke back then already.

— Dr. Serkan Toto / Kantan Games Inc. (@serkantoto) April 18, 2022