Keywords Studios Plc (LON: KWS) has bought a video games creative marketing agency, Maverick Media Limited.
- The consideration for the acquisition is up to £3.6 million, and it will broaden the group's plan to become the 'go to' technical and creative services platform for the global video games industry.
- The company will be paying a non-contingent consideration of £2.7million, which includes £2.4 million in cash on the first anniversary of completion, the remainder will be paid through the issue of 13,579 new ordinary shares to the sellers.
- Maverick has generated revenues of over £3.4 million and adjusted EBITDA of around £1.0 million for the year ended 31 May 2020.
- On 27August 2020, at the time of writing, GMT 09:08 AM, KWS shares were trading at GBX 2,286.00, up by 36.00 points or 1.60% against the previous day closing price.