TIDMKWS
RNS Number : 3705I
Keywords Studios PLC
12 August 2021
12 August 2021
Keywords Studios plc ("Keywords Studios", "Keywords", "the
Group")
Acquisition of AMC RO STUDIO S.R.L. ("AMC")
Establishes Art Service Line in Eastern Europe through a high
quality acquisition
Keywords Studios, the international technical and creative
services provider to the global video games industry, today
announces that it has acquired the entire issued share capital of
AMC, a video game art creation studio for a total consideration of
EUR2.8m. The acquisition adds significant talent and experience to
Keywords' art service line and establishes its presence in Eastern
Europe. The acquisition also brings opportunities for certain of
the Group's other service lines in the region and advances
Keywords' strategy to become the 'go to' technical and creative
services platform for the global video games industry.
Founded in 2009 and based in Bucharest, Romania, AMC is a long
established, high quality specialist art studio servicing both US
and European clients. The studio's talented and experienced team of
63 staff, led by Studio Head Cristina Neamtu, focuses primarily on
characters, environment, buildings, vehicle and weapons assets in a
variety of styles including realistic 3D, photo-realistic 3D,
stylized 2D and illustration. AMC works for large publishers and
developers including Activision, 2K, CD Projekt Red, Wargaming,
Zynga and others on major franchises including Call of Duty, World
of Tanks, Spider Man, Mafia and Planet of the Apes. Cristina Neamtu
and the AMC team will remain with the business.
AMC has grown strongly over the last two calendar years and in
2020 recorded revenue and adjusted EBITDA of EUR2.3m and EUR0.5m
respectively. Under the terms of the acquisition, Keywords will pay
an initial cash consideration of EUR2.0m and the equivalent of
EUR0.8m in new ordinary shares to be issued on the first
anniversary of completion. The new ordinary shares to be issued are
subject to one-year orderly market provisions.
Jon Hauck, Joint Interim CEO of Keywords Studios, commented:
"I am delighted to welcome Cristina and the talented AMC team to
the Keywords group. We are excited by the expertise and experience
that AMC will bring to our art service line and by the growth
opportunities for the service line as well as for Keywords' wider
business in the region.
"The studio's excellent track record and reputation for high
quality work for over 12 years is extremely impressive. We are
looking forward to helping AMC to grow further as part of the Group
and to being able to offer AMC's high quality work to our client
base."
Cristina Neamtu (AMC Studio Head) further commented:
"We are thrilled to join the Keywords group and we are looking
forward to the opportunities that being part of an industry leading
global business will open up to our clients and our team.
"Being part of the Keywords group will facilitate accelerated
growth and the investment and support will enable us to grow the
team and facilitate the delivery of larger projects to a wider
client base. We are excited about working closely with everyone at
Keywords and contributing to the continuing growth of the wider
Keywords business."
For further information, please contact:
Keywords Studios ( www.keywordsstudios.com
)
Jon Hauck, Joint Interim Chief Executive
Officer
Sonia Sedler, Joint Interim Chief
Executive 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 Hirst keywords@mhpc.com
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 over 65 facilities in 22 countries strategically located in
Asia, Australia, the Americas and Europe, it provides integrated
art creation, marketing services, game development, testing,
localization, audio and player support 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 Cold War, Anthem, Star Wars Jedi: Fallen
Order, Assassin's Creed Valhalla, Valorant, League of Legends,
Fortnite, Clash Royale and Doom Eternal. Keywords Studios is listed
on AIM, the London Stock Exchange regulated market (KWS.L).
About AMC RO STUDIO S.R.L. ( www.amcstudio.ro )
AMC is a leading 3D art and design studio focused on the video
game industry. Based in Bucharest, Romania and led by Cristina
Neamtu, AMC enables its partners to realize their vision through
creative 3D visual development and design across a range of game
platforms. AMC has worked on industry leading titles including
Witcher III (CD Projekt Red), World of Tanks (Wargaming), Call of
Duty (Activision), Spiderman (Sony) and Mafia (2K).
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