(See chart below.)
Despite the upswing, the report expresses concern about the low level of M&A activity.
(The drop-off occurred even when Microsofts $68.7B acquisition of Activision Blizzard was not counted.)
DreamHack video gaming festival in Leipzig, GermanyJens Schlueter/Getty Images
That marked the first quarter since 2019 when no gaming company went public.
