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WEBTOON's RI Games Deal and Kunlun Wanwei's Xianlai Huyu Deal

The gaming industry experienced a week of significant consolidation and strategic realignment, characterized by 15 transactions totaling $412 million.

• WEBTOON Entertainment is acquiring a 60% stake in RI Games Holdings for approximately $100 million, marking the company's first move to own, rather than license, its game development studios.
• Kunlun Wanwei is exiting its full ownership of Xianlai Huyu for $111 million, a divestment representing an 80% loss in value compared to its original acquisition cost as the subsidiary's annual net profit declined from $174 million in 2018 to $10 million by 2025.
• Epic Games has sold its ArtStation and Sketchfab platforms to KitBash for an undisclosed sum, allowing Epic to prioritize the development of Unreal Engine 6, Fortnite, and the Epic Games Store.