21st Dec 2021 08:43
(Alliance News) - Keywords Studios PLC on Tuesday said it acquired Waste Creative Ltd and Wicked Witch Software Pty Ltd to extend its offering and expand in Australia.
The London-based company acquired digital creative marketing agency Waste Creative, also London-based, to add community management and performance marketing to its offering.
Waste Creative is expected to generate revenue of GBP6.0 million in the financial year ending June 30, 2022.
Under the terms of the acquisition, Keywords will pay up to GBP9.8 million.
This includes an initial consideration of GBP2.2 million in a mix of cash and shares, plus up to GBP7.6 million in cash and shares, dependent on Waste Creative's performance in the next three years.
Separately, the technical services provider acquired Melbourne-based video game development studio Wicked Witch as part of its expansion strategy in Australia.
Wicked Witch works for large publishers, including Microsoft Corp and Riot Games Inc, as well as several Australian based developers and publishers, Keywords said.
The studio is forecasted to generate revenue of USD6 million in 2022 and Keywords Studios acquired it for a cash payment of USD6.5 million.
"By working with Keywords, we will be able to expand our services to meet our clients' full marketing needs from early access or beta launch stage to the ongoing growth, retention and management of their player and fan communities," Waste Creative Co-Founder Visar Statovci commented.
Wicked Witch Studio Head Steve Dauterman added: "The acquisition will help accelerate our growth and provide our clients and staff with the opportunities that come with joining this industry-leading global business. We are looking forward to the next phase in the studio's development as part of the Keywords group."
Shares were up 0.2% at 2,758.00 pence each on Tuesday morning in London.
By Abby Amoakuh; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Keywords Studios Plc