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.
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation.
Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.