Dublin-based Keywords Studios has continued it acquisition spree, buying Indigo Pearl and Jinglebell Communications for up to €4m.
The deals will further the group’s strategy to become the “go to” technical and creative services platform for the global video games industry, according to a statement from the company.
This brings Keywords’ total acquisitions this year to seven, all of which have been made since it raised €110m in a placing in May.
Led by Caroline Miller and founded in 2000, Indigo Pearl is a full-service PR agency specialising in the video game sector.
Indigo Pearl’s clients include Epic Games, Google Stadia, Devolver Digital, Sony PlayStation, Ubisoft Entertainment and Niantic.
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Dublin-based Keywords Studios is to pay up to $50m (€41m) for US game development company High Voltage in its second major acquisition in as many months.
Keywords said that the purchase of thegame development services company formed part of strategy to become the “go to” technical and creative services platform for the global video games industry.
This year Keywords has made five acquisitions worth in the region of £77m (€84.6m) after raised €110m in a placing in May.
High Voltage is expected to generate earnings of $9m next year and Keywords could pay upto a maximum of $50m for the business.
High Voltage provides game development services to the video games industry.
The acquisition will further Keywords strategy to become the “go to” technical and creative services platform for the global video games industry, according to a statement from the group.
High Voltage is expected to generate earnings of circa $9m (€7.4m) next year.
Under the terms of the acquisition, Keywords will pay a maximum amount of $50m for the business.
This is comprised of initial consideration of $23.75m in cash and the equivalent of $9.75m in new ordinary shares.
There is also a deferred consideration of up to $16.5m, in a mix of cash and new ordinary shares, based on performance targets and other conditions being met on or prior to 31 December 2021.