18th Feb 2014 09:40
LONDON (Alliance News) - Keywords Studios PLC Tuesday said it has acquired Babel Media Ltd for GBP5.4 million in both cash and shares, as it steps up its growth strategy to add client numbers and penetrate markets.
In a statement, Keywords said it will pay Babel GBP2.2 million in shares, with the remaining GBP3.2 million being used to pay off Babel's debts.
"The acquisition of Babel brings together two of the leading video games testing and localisation providers, firmly establishing Keywords as the market leader in its field, with operations across Dublin, Rome, Montreal, Seattle, Tokyo and now in New Delhi," Andrew Day, Chief Executive, said in a statement.
"The acquisition will not only generate considerable cost synergies but it will provide greater scale and breadth of services for our combined interactive media client base globally. Adding India to our global locations, with its significant cost advantages, is another important step in both enhancing group margins and enabling our clients and prospects to benefit from a range of services differentiated by cost, flexibility, time zone, scalability and languages offered," Day said.
Keywords shares were Tuesday quoted at 155.00 pence, up 8.00 pence, or 5.4%.
By Samuel Agini; [email protected]; @samuelagini
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