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Keywords Studios is raising £100 million to purchase businesses struggling with | Pocket Gamer.biz


Keywords Studios wants to raise £100 million ($122 million) to acquire service companies affected by COVID-19.

As reported by GamesIndustry.biz, it intends to achieve this through a share placement programme. New standard shares have a value of $0.01, and overall it all comes to £100 million ($122 million).

The Irish company will target firms that could struggle to make it through the coronavirus outbreak, those that are “less able to weather the disruption.”

Opportunity

“This is likely to result in an increased number of acquisition opportunities for Keywords Studios, with some targets now more inclined to re-engage previously stale exploratory conversations,” said Keywords.

“The Board believes that these businesses and their customers are now more likely to recognise the attractions of being part of a larger group with a more diverse customer base, broader geographic reach, better operational systems and a stronger financial covenant.”

Last month, the company revealed its revenue had increased by 30 per cent in 2019. Furthermore, it closed out 2019 by making three acquisitions – Kantan, Ichin Holdings and Syllabes. In February, Keywords opened a new Electric Square office in Singapore.

This story first appeared on PCGamesInsider.biz.



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