13th Jan 2021 10:00
(Alliance News) - Keywords Studios PLC on Wednesday announced it has completed the acquisition of Manhattan Beach, California-based game development services provider Heavy Iron Studios Inc for up to USD13.3 million.
Back in September, the London-based technical and creative services provider to the global video games industry announced it had agreed to buy Heavy Iron Studios. It said it will pay USD4 million up front, USD500,000 in shares and a deferred consideration of up to USD8.8 million contingent on performance-based targets.
Keyword Chief Executive Andrew Day said in September: "We welcome the extremely experienced and talented Heavy Iron team to the Keywords family. The addition of Heavy Iron to the group further strengthens and scales our game development service line."
Shares in Keywords Studios were down 2.6% at 2,686.00 pence in London on Wednesday.
By Zoe Wickens; [email protected]
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