Keywords Studios Plc (LON: KWS) to acquire g-Net Media, Inc.

 

Keywords Studios Plc (LON: KWS) is going to acquire a Los Angeles-based provider of marketing services to the video games and entertainment industries, g-Net Media, Inc.

  • The acquisition is for a total consideration of up to US$32 million, and Keyword will initially be paying US $14.4 million in cash.
  • Around US $3.6 million is to be paid in new ordinary shares on the first anniversary of the acquisition.
  • The acquisition will aid the group in its strategy to become the 'go-to' technical and innovative services platform for the global video games industry.
  • For the calendar year to 31st December 2021, g-Net Media’s revenues are expected to be around USD20 million and EBITDA around USD 3.0 million.
  • On 25 November 2020, the stocks of the company traded higher by 0.56% from its previous closing, hovering at around GBX 2,172.00 at 10:36 AM GMT+1.

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