Keywords to spend up to $10m on US firm

By Geoff Percival

Dublin-based video game content provider Keywords Studios has bought Hollywood, California-based production services company Blindlight for a maximum consideration of up to $10m (€8.5m).

The deal marks Keywords’ fourth acquisition this year, following on from the 11 it made during 2017.

Keywords will pay an initial $3.64m in cash and issue Blindlight with 64,521 shares one year after the deal completes.

A deferred consideration of up to $4.8m will be payable to the US company in cash depending on the performance of the business in the 12-month periods to the first and second anniversaries of the acquisition.

Earlier this month Keywords completed a €75m three-year credit facility with Barclays, HSBC, and Lloyds Banking Group.

The new facility was announced earlier this year and can be extended by two years and upped to €105m, with those funds earmarked entirely for acquisition purposes.

Blindlight works with top game producers around the world, including Bethesda, NCSoft, Sony Interactive Entertainment, and Ubisoft, providing voice-over production, celebrity acquisition, sound design, music, and rights management.

“Keywords and Blindlight have got to know each other well over the past three years and we see good opportunities to leverage both businesses to offer a wider range of world-leading services to our clients,” said Keywords chief executive Andrew Day.

Keywords Studios’ share price rose by over 2% on the back of the latest takeover announcement.

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