26th Nov 2015 09:10
LONDON (Alliance News) - Keywords Studios PLC on Thursday said it has raised GBP10.5 million in a share placing to back its acquisition strategy.
Keywords, which provides localisation services to the video games industry, said it has placed 5.5 million shares at 190.00 pence per share to raise the funds. Shares in Keywords were down 3.9% to 194.999 pence on Thursday.
The company intends to use the proceeds from the placing to make further acquisitions. It said it is currently in active talks with potential targets, which would widen its service offering and geographic presence.
"We are delighted to have received strong support from both new and existing institutional investors for this placing. The funds raised will allow us to continue to execute our strategy of making value-enhancing selective acquisitions in complementary service lines and geographies, and allow Keywords to continue to be a major acquirer in our industry," said Andrew Day, Keywords' chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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