5th Dec 2022 09:44
(Alliance News) - Keywords Studios PLC on Monday said it has agreed to buy Helpshift Inc in order to expand its player support and engagement capability.
The Dublin-based technical and creative services provider to the video games industry announced the conditional agreement for the acquisition of Helpshift for up to USD75 million.
Helpshift, a consumer-facing digital support platform based in San Francisco, has developed a customer support automation tool which manages and resolves customer support issues in real-time within clients' mobile apps.
Keywords said Helpshift will be integrated with Keywords' player support business, and will be enhanced by the company's Kantan AI studio, which will expand the number of languages supported in-app by Helpshift's platform.
Keywords Chief Executive Officer Bertrand Bodson said: "We have seen first-hand the power of their technology and its ability to improve player engagement and retention. We believe being able to deliver a holistic player experience solution will be a compelling offering for our clients and further support our strategic partnership ambitions with them."
The acquisition will be made up of an initial cash consideration of USD60 million, plus up USD15 million in cash and shares linked to the financial performance of Helpshift over the next two years.
Helpshift is expected to record adjusted earnings before interest, tax, depreciation and amortisation of about USD2 million on USD20 million in revenue in 2022. Adjusted Ebitda is expected to rise to more than USD8 million in 2024, Keywords said.
The acquisition is expected to be completed before the end of 2022, subject to conditions including the approval of Helpshift shareholders.
Keywords shares were down 1.4% trading at 2,908.00 pence per share on Monday morning in London.
By Harvey Dorset; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Keywords Studios Plc