6th Apr 2016 07:00
LONDON (Alliance News) - Keywords Studios PLC on Wednesday said it has agreed to buy the rest of Kite Team sooner than originally planned.
Keywords, which provides technical services to video games companies, bought Kite Team in July 2015, acquiring 50% of the company initially with plans to increase this stake in the future.
On Wednesday, Keywords said it will buy the rest of Kite Team, which owns audio recording and localisation facilities in Madrid and Mexico City and provides audio recording and localisation services for games in the Iberian and Latin American regions, 20 months earlier than planned.
Keywords will pay EUR1.2 million to acquire the rest of the company, comprising EUR1.0 million in cash and 55,508 Keywords shares.
Keywords Chief Executive Andrew Day said Kite Team had performed in line with expectations since Keywords acquired its stake in 2015, with good business wins secured and momentum building in both its Spanish and Mexican offices.
By Sam Unsted; [email protected]; @SamUAtAlliance
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