TIDMKWS
RNS Number : 2565X
Keywords Studios PLC
27 August 2020
27 August 2020
Keywords Studios plc ("Keywords Studios", "the Group")
Acquisition of Maverick Media Limited
Building our Marketing Services
Keywords Studios, the international technical and creative
services provider to the global video games industry, today
announces the acquisition of Maverick Media Limited ("Maverick"), a
video games creative marketing agency, for an amount of up to
GBP3.6m. The acquisition furthers the Group's strategy to become
the 'go to' technical and creative services platform for the global
video games industry.
Maverick, founded in 1995, is one of the longest established
video game creative agencies in Europe. Based in Clerkenwell,
London, the studio, with a staff of 16, produces marketing
campaigns and related services for some of the world's leading
games publishers, developers and brands. With little client overlap
with Keywords Studios' other marketing studios, Maverick will
further extend Keywords' client relationships in the growing
marketing services business which now comprises 6 studios.
Maverick has an impressive track record in TV commercial and
live action projects in addition to its video game trailers, key
art and social media work. These strengths broaden and deepen
Keywords Studios' range of marketing services and will benefit the
Group's wider client base.
For the year ended 31(st) May 2020, Maverick generated revenues
of over GBP3.4m and adjusted EBITDA of approximately GBP1.0m and is
growing despite the challenges of Covid.
Keywords Studios will pay non-contingent consideration of
GBP2.7m, comprising GBP2.4m in cash and the remainder through the
issue of 13,579 new ordinary shares to the sellers on the first
anniversary of completion. The remaining consideration of up to
GBP0.9m will become payable to the sellers, in a mixture of cash
and up to 22,632 shares, based upon performance targets over the
first six months post completion.
Andrew Day, CEO of Keywords Studios commented:
"We are delighted that Maverick and its talented team are
joining Keywords Studios. Maverick is a strong brand with a 25 year
body of work in servicing video games publishers and developers and
has grown successfully with the industry. We are excited about the
expertise that Maverick will bring to our wider marketing business
and ultimately to our client base across the Group.
This is the second acquisition to complete following our recent
GBP100m placing and we have a healthy pipeline of further
acquisition opportunities which we are reviewing and
advancing."
For further information, please contact:
Keywords Studios (www.keywordsstudios.com)
Andrew Day, Chief Executive Officer
Jon Hauck, Chief Financial Officer
Joseph Quinn, Investor Relations +353 190 22 730
Numis Securities
Stuart Skinner/Kevin Cruickshank/Will
Baunton +44 20 7260 1000
MHP Communications (Financial PR) +44 20 3128 8193
Katie Hunt/James Midmer/Charles keywords@mhpc.com
Hirst
About Keywords Studios ( www.keywordsstudios.com )
Keywords Studios is an international technical services provider
to the global video games industry. Established in 1998, and now
with 61 facilities in 21 countries strategically located in Asia,
the Americas and Europe, it provides integrated art creation,
marketing services, software engineering, testing, localization,
audio and customer care services across more than 50 languages and
16 games platforms to a blue-chip client base of over 950 clients
across the globe.
Keywords Studios has a strong market position, providing
services to 23 of the top 25 most prominent games companies,
including Activision Blizzard, Bandai Namco, Bethesda, Electronic
Arts, Konami, Microsoft, Riot Games, Square Enix, Supercell,
TakeTwo, Epic Games and Ubisoft. Recent titles worked on include
Call of Duty: Black Ops 4, Mortal Combat X, Assassin's Creed
Odyssey, Borderlands 3, League of Legends, Fortnite, Clash Royale
and Rainbow Six Siege. Keywords Studios is listed on AIM, the
London Stock Exchange regulated market (KWS.L).
About Maverick ( www.maverickmedia.co.uk )
Founded in 1995, Maverick is an award-winning video games
creative agency that devises campaigns for the world's foremost
video games publishers, developers and brands. Maverick has a team
of sixteen people based in London and Montreal. Maverick's clients
include Bandai Namco, Pokémon, Wooga, Zynga, Koch Media, D3,
Marmalade and Square Enix.
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