Keywords Studios PLC Acquisition (4312Z)
15 December 2017 - 6:00PM
UK Regulatory
TIDMKWS
RNS Number : 4312Z
Keywords Studios PLC
15 December 2017
15(th) December 2017
Keywords Studios plc
("Keywords Studios", "the Group")
Acquisition of LOLA, Mexico City
Strengthening the Group's Audio Service Line
Keywords Studios, the international technical services provider
to the global video games industry, today announces that it has
acquired the assets and business of Localizadora Latam SC ("LOLA")
for a total consideration of up to US$1.03m from its founders,
Alejandro González and Luis Daniel Ramírez. Based in Mexico City,
LOLA provides Latin American Spanish dubbing, localisation and
sound design services for the video game, film and television
markets, with clients including Warner Bros and Ubisoft.
Founded in 2013, LOLA has built a reputation for quality and
Keywords Studios currently uses the services of LOLA to complement
those of its wholly owned local voice recording studio, Kite Team
Mexico. Following the acquisition, Keywords' existing Kite Team
operations in Mexico City will be integrated with those of LOLA to
create the market leading provider of services for Latin American
Spanish localised video games.
LOLA had revenues of US$1.2m in 2016. In the year to 31 December
2017 the company is expected to maintain this performance, with an
estimated normalised PBT of US$250,000. Approximately 40% of its
revenues relate to work subcontracted from Keywords Studios.
Under the terms of the acquisition Keywords is paying a
consideration comprised of US$480,000 in cash and the issue of
10,106 new ordinary shares in Keywords, which will be subject to a
one-year lock in period. Keywords will pay a further amount of up
to $350,000 in cash over the next 2 years dependent on LOLA
achieving certain performance targets.
Application has been made to the London Stock Exchange for the
admission of 10,106 new ordinary shares to trading on AIM.
Admission of the new shares is expected to take place at 8.00am on
20 December 2017. The Company's total issued share capital
following admission will consist of 61,707,732 ordinary shares of
one penny each with one voting right per share. The above figure of
61,707,732 may be used by shareholders as the denominator for the
calculations by which they can determine if they are required to
notify their interest in, or a change to their interest in, the
Company following admission.
Andrea Ballista, Global Audio Service Line Director, Keywords
Studios commented:
"We are thrilled to have Alejandro, Luis and the rest of the
LOLA team joining the Audio Service Line. Their skills and
experience and access to talented voice actors in Mexico will
increase our capacity for Latin American Spanish recording services
and their expertise in dubbing film, TV and animated series will
help extend our services in those markets."
For further information, please contact:
Keywords Studios (www.keywordsstudios.com)
Andrew Day, Chief Executive
Officer
David Broderick, Chief Financial
Officer +353 190 22 730
Numis (Financial Adviser)
Stuart Skinner / Kevin Cruickshank
(Nominated Adviser)
James Black / Tom Ballard
(Corporate Broker) 020 7260 1000
MHP Communications (Financial 020 3128 8100
PR) keywords@mhpc.com
Katie Hunt / Ollie Hoare
About Keywords Studios (www.keywordsstudios.com)
Keywords Studios is an international technical services provider
to the global video games industry. Established in 1998, and now
with 42 facilities in 20 countries strategically located in Asia,
the Americas and Europe, it provides integrated art creation,
software engineering, testing, localisation, audio and customer
care services across more than 50 languages and 16 games platforms
to a blue-chip client base in more than 15 countries. It has a
strong market position, providing services to 23 of the top 25 most
prominent games companies, including Activision Blizzard, Bandai
Namco, Bethesda, Electronic Arts, Konami, Riot Games, Sony, Square
Enix, Supercell, TakeTwo, and Ubisoft. Recent titles worked on
include Uncharted 4: A Thief's End, Call of Duty: Infinite Warfare,
Mortal Combat X, Assassin's Creed Syndicate, Battlefield 1,
Overwatch, World of Warcraft: Legion, Hearthstone, Clash Royale,
and Mobile Strike. Keywords Studios is listed on AIM, the London
Stock Exchange regulated market (KWS.L).
About Localizadora Latam "LOLA" (www.lolamx.com)
Based in Mexico City, LOLA is a company with broad experience in
finding and identifying talents for Latin American Spanish dubbing.
LOLA's leadership brings more than 20 years of experience to the
dubbing industry and 15 years in the audio design area, working on
adapting content into Latin American Spanish, always exceeding
their clients' expectations. LOLA has been working on major
video-games titles such as Shadow of War, Assassin's Creed
Syndicate and Halo.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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